A Chicago federal judge joined the Third Circuit in shielding Kalshi from state gambling regulation, finding its sports contracts likely qualify as swaps under

Ohio's regulator ordered Kalshi, Polymarket, Robinhood and Coinbase among others to halt sports event contracts, opening a new state-versus-federal front.

Kalshi is pushing perpetual futures into US equity indexes, expanding its product suite beyond event contracts into traditional market derivatives.

Kalshi's short-dated gold contract generated about $5 million in September fees, surpassing Ether trading and signaling demand for high-frequency commodity even

Kalshi added contextual information to its political markets amid record election volume and mounting legal pressure over event contracts.

The CFTC advanced new event contract rules to the Office of Information and Regulatory Affairs, a step toward formal federal oversight of prediction markets.

Legal experts and Bloomberg reporting say the split between federal and state rulings on Kalshi contracts is likely headed to the Supreme Court.

Kalshi and peers are spending millions on lobbying and litigation as states move to restrict sports and election event contracts.

The appellate ruling deepened a circuit split over whether prediction market contracts are federal swaps or state-regulated bets.

Event contract bundling is powering rapid volume growth, drawing comparison to sportsbook parlay products.

Polymarket is working toward re-entering the US market while prediction market ETF products approach launch.

With monthly volume near $53 billion, conflicting circuit rulings leave the legal status of event contracts unresolved.

Weekly and monthly volume figures underscore prediction markets' rapid growth and the concentration of activity on one dominant platform.

The Lakers star's promotional deal with Polymarket drew scrutiny over athlete ties to betting-adjacent platforms.

Kalshi controls roughly 89% of the US market, per estimates, as total industry volume reaches new records.

BofA upgraded DraftKings, arguing sportsbooks and prediction markets can coexist rather than cannibalize each other.

Federal regulators are drafting rules for event contracts while states and courts spar over jurisdiction.

Polymarket is challenging Dutch gambling authorities in court as European regulators scrutinize crypto-based prediction markets.