The NFL told the Supreme Court that Kalshi's sports event contracts are bets rather than swaps, siding with state gambling regulators and against rival leagues

The ruling deepens a circuit split by letting state regulators police prediction markets even as the CFTC asserts jurisdiction over the same contracts.

Coinbase joins Kalshi and Robinhood in pulling Michigan sports contracts after state regulators pressed the platforms, closing existing positions and stopping n

State attorneys general are pressing the high court to settle whether federal commodities law displaces state gambling enforcement against prediction market ope

Ohio's regulator ordered 10 operators to halt sports contracts while platforms exited Connecticut, extending a multi-state enforcement wave against sports event

The Ohio Casino Control Commission sent cease-and-desist letters to 10 prediction market platforms over sports event contracts, following similar moves in other

The product expands Kalshi beyond event contracts into perpetual-style index trading, a format more common on offshore crypto venues.

The partnerships put tribal gaming operators into the prediction market business and undercut Native American opposition to the industry's expansion.

Connecticut regulators said multiple prediction market platforms are leaving the state after receiving cease-and-desist letters over sports event contracts.

The appeal tests whether state regulators can enforce gambling laws against a federally regulated exchange offering event contracts.

A federal definition of event contracts as swaps would shift the regulatory fight toward CFTC jurisdiction over prediction market platforms.

The exchange operator is broadening its sports-linked derivatives lineup with baseball futures, extending its reach into event-based markets.

The rapid volume growth has drawn federal attention, with lawmakers and regulators debating who should oversee event contracts.

PrizePicks became the latest operator to withdraw sports event contracts under state regulatory pressure, adding Missouri to the list of pullback states.

FanDuel secured an FCM registration, positioning it to offer event contracts independently of CME's exchange infrastructure.

DraftKings is making a large bet on prediction markets as it seeks new growth beyond traditional sportsbook operations.

Kalshi is expanding its election-related contract offerings as it seeks to broaden beyond sports markets.

The research note argues gambling operators and trading venues increasingly compete for the same customers and products.