The ruling halts state-level curbs on Kalshi sports contracts and adds to a growing circuit split over whether the contracts are federally regulated swaps.

The approval lets Kalshi launch perpetual futures tied to the US 500 index, extending its product suite from event contracts into equity index derivatives.

The raise would mark one of the largest private valuations for a prediction market operator as Kalshi expands beyond event contracts into financial derivatives.

The campaign across dozens of states tests whether prediction markets can win legislative backing while fighting state regulators in court.

The suspensions come amid broader scrutiny of insider trading and self-dealing on prediction market platforms.

The new context tools and a data deal with CBS News come as election market volume hits records ahead of the midterms.

A Supreme Court case could settle whether states or the CFTC have authority over prediction market contracts.

The probe adds to regulatory and political attention on how well prediction markets police trading by people with inside knowledge.

State officials say Kalshi constitutes illegal gambling, escalating a standoff even as federal courts have shielded the exchange elsewhere.

Lawmakers are pushing to bar candidates from trading markets on their own races following Kalshi's suspensions.

Reports of a self-excluded bettor losing $25,000 renew questions about whether prediction markets apply gambling protections.

The volume figures underline how quickly the sector has grown and how concentrated the market remains.

The UK regulator's outreach signals possible licensed entry for prediction markets in Britain.

Record sports trading volume comes as rival DraftKings' DKeX prediction market trails Kalshi in early activity.

The move bars Kalshi from operating in the Czech market as European regulators weigh how prediction markets fit gambling law.

Reports that minors can access the platforms add to pressure over age controls in prediction markets.

The state is pressing its case that Kalshi's contracts fall under gambling law despite CFTC rule changes.

Questions about suspicious volumes come as the two platforms expand into new markets and products.