Ninth Circuit rules states can regulate prediction markets as gambling, rejects Kalshi's bid to block Nevada oversight
The Ninth Circuit ruled Kalshi sports event contracts are gambling, not federally regulated swaps, clearing the way for Nevada and other states to ban or regula
qz.com · +15 outlets
CFTC fines former White House teleprompter operator Gabriel Perez $172,000 for insider trading on Kalshi speech contracts
The CFTC ordered Gabriel Perez to pay $172,000 for trading on non-public information about the timing and content of Trump speeches using Kalshi prediction cont
Coin Edition · +13 outlets
CFTC signals potential Supreme Court appeal after Nevada wins prediction markets case
The CFTC signaled it may seek Supreme Court review after the Ninth Circuit ruled states can regulate prediction markets, challenging the agency's exclusive juri
PYMNTS.com · +14 outlets
DraftKings and Flutter shares jump after Kalshi sports betting ruling
Shares of DraftKings and Flutter Entertainment rose on the Ninth Circuit ruling that treats sports prediction contracts as gambling, reducing competitive threat
Business Upturn · +2 outlets
Canadian securities regulators uphold ban on sports and entertainment event contracts
Canadian regulators the CSA and CIRO rejected sports and entertainment prediction contracts, ruling they are not securities and maintaining their ban.
Gambling Insider · +6 outlets
Nine senators push CFTC to ban disaster prediction contracts after $1.2 million bet on LA wildfires on Polymarket
A bipartisan group of nine senators urged the CFTC to prohibit disaster-related event contracts following $1.2 million in bets on Los Angeles wildfires via Poly
Yahoo Finance · +7 outlets
Ninth Circuit ruling likely sends sports prediction market fight to US Supreme Court
Legal observers say the Ninth Circuit's split with the Third Circuit on whether event contracts are swaps makes Supreme Court review highly likely.
Legal Sports Report · +14 outlets
Nevada Attorney General Aaron Ford celebrates court victory protecting state's sports betting regulation
Nevada Attorney General Aaron Ford announced the Ninth Circuit ruling as a win for the state's authority to regulate sports betting against Kalshi.
yahoo · +4 outlets
Trump-appointed judges deliver opinion against Kalshi, dealing blow to prediction market allies
A panel including two Trump-appointed judges ruled against Kalshi, with observers noting the opinion was unusually harsh toward the prediction market platform.
rawstory.com · +2 outlets
Ripple CTO emeritus David Schwartz criticizes Kalshi's CFTC argument as incorrect
David Schwartz, former Ripple CTO, publicly criticized Kalshi's legal reasoning in its CFTC argument over sports event contracts.
U.Today · +1 outlets