New York sues Polymarket, alleging its prediction markets are an illegal gambling operation
The lawsuit, filed by Attorney General Letitia James and backed by Governor Hochul, seeks to shut down Polymarket's US business and follows a similar action aga
amNewYork · +15 outlets
CFTC staff advisory flags 'mention market' event contracts as presumptively open to manipulation
The guidance tells exchanges that contracts tied to what individuals say or do carry elevated manipulation risk and asks how they will guard against it.
Reed Smith LLP · +15 outlets
$5 billion flurry of near-identical Kalshi trades draws federal wash trading scrutiny
Kalshi rejected the wash trading claims while the report flagged unusual activity in an Ethereum perpetuals market.
WSJ · +4 outlets
Public launches AI trading agents for prediction markets in partnership with Kalshi
The brokerage is linking Kalshi event data to AI agents, extending prediction markets into mainstream retail investing.
financemagnates.com · +14 outlets
New Jersey takes the prediction markets legal fight to the Supreme Court
State gaming regulators and lawmakers are asking SCOTUS to rule on whether states can bar Kalshi's sports event contracts.
KuCoin · +13 outlets
Kalshi asks CFTC to approve margin trading on event contracts
The exchange is seeking approval for risk-based margining, which would let traders take leveraged positions on prediction markets.
FinanceFeeds · +13 outlets
Report puts Kalshi's potential valuation as high as $42 billion if it survives Supreme Court review
The estimate hinges on the outcome of litigation over state authority to regulate prediction markets.
Fortune · +3 outlets
Google security engineer charged with using inside information to make $1M on Polymarket
The case highlights insider trading exposure for prediction markets that list event contracts tied to company information.
CNBC · +13 outlets
Kalshi suspends three congressional candidates for betting on their own races
The suspensions raise integrity questions as prediction markets expand into US election contracts.
PBS · +13 outlets
Missouri attorney general orders six prediction market operators to stop offering sports contracts
The cease-and-desist letters add Missouri to the list of states challenging sports event contracts.
focusgn.com · +14 outlets
Robinhood's prediction market revenue hits $156 million as crypto gains ground
Event contracts are becoming a material revenue line for the retail brokerage as it expands beyond sports.
ReadWrite · +4 outlets
Kalshi's embrace of sports betting tests the rules for prediction markets
The sports push complicates Kalshi's legal argument that its contracts are not gambling, according to a former CFPB adviser.
WSJ · +13 outlets
Prediction markets reshape US midterm campaigns as trading tops $750 million
Election contracts are drawing record volume and attention in the run-up to the midterms.
mezha.net · +2 outlets
Kalshi pulls its prediction markets out of three tribes' lands
The move comes as tribal governments warn prediction markets threaten sovereignty and gaming revenue.
Bloomberg Law News · +14 outlets
DraftKings falls 7.6% as analysts weigh Kalshi's NFL market lead
Investors are assessing how much prediction market share is eating into traditional sportsbook volumes.
MarketBeat · +1 outlets
Polymarket lobbies ESMA to classify its markets under MiFID rather than gambling rules
The push in Europe follows New York's suit and frames the fight over whether event contracts are financial products.
FinanceFeeds · +8 outlets
Pew: prediction market trading volume doubled between May and July, driven largely by sports
The data quantifies the sports-led growth that has drawn state and federal scrutiny.
Pew Research Center
Senate Democrats seek a public hearing on the growth of prediction markets
Lawmakers are pressing for congressional scrutiny as the industry's volume and sports exposure expand.
The Crypto Times