The round values the private exchange at roughly the level of major exchange groups, funding its push into crypto and stock perpetual futures.

The federal suit aims to establish CFTC exclusivity over event contracts, while Utah prosecutors separately charged Kalshi's co-founders with felony gambling co

Operators are challenging state-level bans and orders in federal court as the jurisdictional fight over event contracts widens.

Event contracts logged 16.4 billion trades and a new $100M-plus business line, but falling crypto revenue and tighter spreads drove the stock down.

The league's partnership legitimizes regulated event contracts around its games and includes a memorandum with the CFTC.

The national ban adds Brazil to the growing list of jurisdictions restricting access to prediction market operators.

The criminal counts mark an escalation in state efforts to shut down the exchange's sports event contracts.

Tenev and the CFO signaled interest in financial event contracts and reducing dependence on the Kalshi partnership amid expectations of a fickle sports market.

The exchange's proposed contracts borrow the binary payoff structure of event markets, a potential competitive response.

The wallet's integration brings Kalshi's markets to a broad consumer crypto audience days after federal regulators sued Utah.

The slump in crypto trading revenue contrasted with record prediction market activity at the brokerage.

The brokerage's scale in prediction markets is emerging as a material standalone business line.

The agency's public discussion comes amid escalating litigation over the reach of its exclusive jurisdiction over event contracts.

Shares dropped as crypto weakness and tighter spreads overshadowed record event contract volumes.

The retreat follows Michigan's order as operators weigh compliance against litigation across states.

The exchange chose litigation over withdrawal, setting up a federal test of state authority over sports contracts.

The sportsbook operator is weighing regulated crypto-linked event products as traditional rivals face state pushback.

Analysts see political risk to the federal agency's federalist posture on event contracts if control of Washington shifts.