CFTC sends White House rules defining event contracts as swaps, escalating state jurisdiction fight
The proposed rulemaking would classify prediction market event contracts as swaps, a move that could preempt state gambling laws and follows a court loss for Ka
Yogonet · +15 outlets
Kalshi finalizing new funding round at $40B valuation ahead of planned IPO
The round would make the prediction market operator one of the most valuable private US companies as it pushes into sports and election contracts.
bloomberg.com · +5 outlets
CFTC investigating former lawmaker Adam Kinzinger over Kalshi bets on Biden pardons
The probe examines whether the former congressman traded on material nonpublic information about presidential pardons.
bloomberg.com · +13 outlets
Cboe and Robinhood plan KPI event contracts on 23 stocks, marking Robinhood's entry as first retail broker
The planned earnings-linked contracts would bring prediction market style products to mainstream retail brokerage accounts.
SCCG Management · +6 outlets
Caesars and MGM decline to enter prediction markets, citing licensing and regulatory risks
The casino operators' stance contrasts with prediction platforms and highlights the industry split over how event contracts should be regulated.
Gambling News · +7 outlets
Polymarket rolls out user protection tools including deposit limits amid state scrutiny
The new trust and safety program follows a case in which a soldier allegedly profited from trading on nonpublic information about Maduro's capture.
the-independent.com · +5 outlets
Galaxy report finds 69% of retail Polymarket accounts lost money, totaling $338.9M
The findings feed the debate over whether prediction markets function as gambling for retail participants.
KuCoin · +3 outlets
Sixth Circuit narrows swap definition and rejects preemption of state sports betting laws in Kalshi case
The ruling deepens a circuit split on whether federally regulated event contracts can override state gambling regimes.
The National Law Review · +6 outlets
CBS News partners with Kalshi to integrate prediction market data into midterm election coverage
The partnership brings prediction market odds into mainstream election reporting, drawing criticism from some press observers.
CDC Gaming · +14 outlets
Kalshi suspends 3 congressional candidates for betting on their own races
The suspensions are among the first enforcement actions against political insiders trading on the platform.
Reuters · +13 outlets
FedEx and PepsiCo among latest companies limiting employee bets on prediction markets
Corporate compliance teams are adding prediction market activity to insider trading and conduct policies.
Bloomberg Law News · +2 outlets
Kalshi wagers $3M campaign to fight off state regulations
The lobbying push comes as states and tribes challenge the legality of sports event contracts.
opensecrets.org · +4 outlets
Victor Wembanyama speaks out against NBA players promoting betting and prediction markets
The star's comments add athlete pressure to the debate over gambling advertising in sports.
Yahoo Sports · +12 outlets
Tribal nations escalate opposition to prediction markets, warning of threats to sovereignty and revenue
Maine and other tribes argue prediction platforms compete with their regulated gaming operations.
Covers.com · +5 outlets
Gaming industry unites against prediction markets at G2E conference
Panel discussions in Las Vegas focused on whether event contracts are sportsbooks under another name.
Legal Sports Report · +14 outlets
New Jersey takes prediction market legal battle to the Supreme Court
The state is asking the high court to weigh in on whether sports event contracts fall under state gambling law.
CBS Sports · +13 outlets
Google security engineer charged with using inside information to make $1M on Polymarket
The case is one of the largest insider trading prosecutions tied to prediction market trading.
ABC News
Analysis argues sports event contracts should be taxed as gambling for federal purposes
The Tax Law Center's analysis could shape IRS treatment of prediction market winnings and losses.
The Closing Line