The proposals would place prediction market event contracts explicitly inside the federal swap definition, a step intended to shield venues such as Kalshi and P

The appellate ruling against Kalshi's preemption theory, now potentially headed to the Supreme Court, is the legal backdrop for the CFTC's new rulemaking and fo

The two casino giants' refusal leaves the contested sports event contract business largely to Kalshi, Polymarket and sportsbook operators.

Ohio joins a growing set of states asserting that sports event contracts are illegal gambling regardless of CFTC oversight.

Traditional operators used the Las Vegas trade show to press the case that event contracts duplicate regulated sports betting and should face the same state lic

The raise would make Kalshi one of the most valuable private US trading venues even as its legal footing remains unresolved.

The departure underscores the split inside the responsible-gambling community over whether to engage with prediction market operators or oppose them.

The carve-out is meant to separate event contracts from games of chance, but critics say it deepens the agency's role in defining gambling.

The voluntary limits come as the platform faces state litigation and federal rulemaking that could impose standards anyway.

Federal court filings represent the agency's direct attempt to establish its jurisdiction against state gaming regulators.

The tax treatment question runs alongside the jurisdiction fight and could materially change returns for event contract traders.

The state victory reinforces that federal courts are not uniformly buying preemption arguments for event contracts.

Mention markets, which pay out on whether a person or thing is referenced in an event, have drawn scrutiny as a possible end run around gambling limits.

Nevada's gaming regulator is among the most aggressive in arguing that sports event contracts violate state law.

Tribal operators fear event contracts will erode the exclusivity arrangements that underpin their gaming compacts.

State attorneys general are watching whether New York's action against Polymarket produces a template for other jurisdictions.

Tribal advocates read the appellate decision as affirming that states and tribes can bar sports event contracts within their borders.

The product launch expands retail access to high-leverage derivatives amid ongoing debate over speculative trading protections.