CFTC proposes classifying event contracts as swaps, carving sportsbook-style gambling out
The CFTC's proposed rule would write prediction markets into swap rules while excluding casino-style gambling products, a move that reshapes the state-federal f
Yogonet · +14 outlets
Kalshi seeks $40B valuation, widening lead over Polymarket
Kalshi is raising at a reported $40 billion valuation as prediction market volumes hit record levels and the two dominant venues spend millions on lobbying.
CoinMarketCap · +12 outlets
New York sues Kalshi, alleging prediction market is illegal gambling
New York's suit adds a major state-level legal front to the fight over whether event contracts constitute gambling.
The New York Times · +13 outlets
NFL backs New Jersey in Supreme Court fight over prediction markets
The league's filing raises the stakes in the Supreme Court case over whether states can regulate sports prediction markets.
Casino.com · +14 outlets
Polymarket weighs IPO and token launch amid reports of valuation above $20B
Polymarket is exploring a native token and public listing while speculation at TOKEN2049 fueled airdrop chatter.
BigGo Finance · +5 outlets
Kalshi seeks full Sixth Circuit review of sports contract ruling
Kalshi is asking the full appeals court to rehear the decision on its sports event contracts as the case heads toward possible Supreme Court review.
Law360 · +14 outlets
Poll finds most Americans oppose betting on elections and government events
The Reuters/Ipsos survey shows cross-party opposition to election betting even as such contracts gain visibility on mainstream media.
Reuters · +13 outlets
Prediction market volume hit record $78.2B in September on sports growth
Record monthly volume and a $410B year-to-date tally underscore how quickly sports and election contracts have scaled.
Bonus.com · +7 outlets
DOJ arrests soldier who made $400,000 betting on Maduro's removal
The prosecution is one of the first criminal cases tied to trading on a geopolitical prediction market outcome.
BBC · +6 outlets
Kalshi scrutinizing long-shot bets that correctly predicted Trump's press secretary pick
Kalshi is investigating who knew about the pick after improbably accurate bets, echoing past insider-trading concerns in event markets.
Scripps News · +6 outlets
Blockchain.com files for CFTC licenses to offer derivatives and prediction markets in the US
The crypto exchange is seeking FCM and DCM approvals to enter the regulated US event contracts market.
PR Newswire · +14 outlets
Kalshi launches prediction apps with Native American tribes, dividing Indian country
A compact with Oklahoma's Alturas Indian Rancheria has drawn opposition from more than 140 tribes worried about gaming sovereignty.
Yahoo Finance · +13 outlets
BetMGM CEO expects Supreme Court to side against prediction markets
BetMGM's leadership criticized prediction markets on an earnings call and predicted the high court will rule against them.
Covers.com · +6 outlets
Ohio asks Supreme Court to take up prediction markets case over sports contracts
Ohio's request adds a state regulator's voice to the push for high court clarity on sports event contracts.
Play USA · +14 outlets
Prime brokers move to open Kalshi markets to hedge funds
Institutional prime brokerage access signals prediction markets are moving toward mainstream finance adoption.
CoinMarketCap · +9 outlets
Kalshi's inflation trader beats Wall Street forecasts month after month
The trader's track record on Kalshi's inflation contracts is drawing attention to event markets as macro forecasting tools.
Bloomberg.com · +13 outlets
Prediction markets spark new fight with California casino tribes
Tribal gaming operators in California are warning that event contracts threaten their compacts and casino revenue.
CDC Gaming
Seminole Tribe sues DraftKings over prediction markets and DFS in Florida
The Florida tribe's suit is the latest legal challenge over event contracts run alongside daily fantasy sports.
Casino.com