WASHINGTON – The man who often made the final touches to President Donald Trump’s speeches allegedly made more than $100,000 betting on those same speeches with Kalshi, a prediction market operator. Gabriel Perez wagered on the “Mentions” market at the popular prediction market, betting on … Read more
DETROIT – Kalshi has got themselves into quite a pickle, being forced to choose between violating state law or violating federal law based on recent developments. A Michigan court order prevented Kalshi from offering sport event contracts in the state, but the CFTC rejected an … Read more
PHOENIX – A new executive order from Arizona Governor Katie Hobbs prohibits insider trading by state employees for the use of prediction market platforms. Executive Order 2026-02 specifically prevents executive branch employees of the state of Arizona from using information not currently available to the … Read more
RALEIGH – The new state budget for North Carolina has major implications on legal sports betting sites in the state, including an increased tax on sports betting related wagers and a brand new tax on prediction markets. Senate Bill 257 will increase the state’s sports … Read more
SPRINGFIELD, Ill. – The 2027 state budget for Illinois includes a new and unprecedented change, which would apply a tax to prediction markets in the state. The $56 billion budget includes a tiered tax rate which will apply to prediction markets, implementing a 1.75% tax … Read more
NEW YORK – In the midst of a heated debate over the legality of prediction markets, particularly pertaining to sports, a new platform was just approved by the US Commodity Futures Trading Commission (CFTC) with the intention of becoming the biggest sports prediction market available. … Read more
ALBUQUERQUE, N.M. – A roundup of recent prediction market news includes dueling lawsuits in New Mexico and Nevada. The Commodity Futures Trading Commission (CFTC) are suing the state of New Mexico and aim to prevent the state from regulating prediction market offerings. In a release … Read more
Illinois prediction market regulation became a part of their budget bill. See how Illinois now requires prediction markets to acquire a license.
WASHINGTON – U.S. President Donald Trump has joined the prediction market regulatory battle and is siding with the Commodity Futures Trading Commission. Amid numerous states pushing for localized regulation, Trump says prediction markets should be exclusively federally regulated by the CFTC. pic.twitter.com/W4ZqJxO1KR— Rapid Response 47 … Read more
WASHINGTON – Wednesday’s U.S. Senate subcommittee hearing titled “No Sure Bets: Protecting Sports Integrity in America” was a lopsided battle between those speaking against and in favor of prediction markets. Those wanting more regulation for prediction markets included witnesses like American Gaming Association (AGA) President … Read more
MINNEAPOLIS – Minnesota Governor Tim Walz signed SF 4760 into law on Monday, which would ban prediction markets from offering specific event contracts on sports and other markets in the state. Now, the CFTC has responded with a lawsuit in an attempt to block the … Read more
WASHINGTON – On the morning of May 14, 2018, the Supreme Court of the United States handed down Murphy v. NCAA and ended Nevada’s 26-year monopoly on legal sports betting. Eight years later, questions surrounding who would profit and under what rules have been answered… … Read more