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
NEW YORK – While sports leagues want to regulated prediction markets and monetize them, their own players are seeking protection from them. A comment period for the Commodity Futures Trading Commission (CFTC) exposed the internal contradiction between leagues like the NFL, NBA, and MLB and … Read more
MADISON, Wisc. – The Commodity Futures Trading Commission (CFTC) is suing Wisconsin in response to the state’s lawsuit against prediction market companies. Wisconsin’s lawsuit alleges that Kalshi and other prediction market apps “facilitate illegal sports betting”, but the federal government claims that the CFTC has … Read more
Kalshi took the unusual step of suing Utah first, using public threats from state officials as grounds that enforcement was on the way. Utah is pushing back through public statements, HB243, and a governor determined to keep prediction markets out of the state. The conflict … Read more
Nevada’s Dina Titus filed a bill targeting prediction platforms like Kalshi and Polymarket that offer sports wagering. Passage looks unlikely given Republican control of the House and Trump administration support for these markets. Titus is simultaneously backing legislation to fix a new tax rule that … Read more
Illinois Rep. Edgar González Jr. filed new legislation to legalize online casino betting with a 25% tax following last year’s unsuccessful attempt. Polymarket faces a court-ordered suspension in Nevada until February 11th after a judge ruled the platform appears to violate state gambling regulations. New … Read more
Rep. Joseph Elison filed House Bill 243 to outlaw prop betting in Utah even though gambling is already banned. The bill updates state law to define prop bets as illegal and lets the Attorney General go after platforms breaking the rules. The bill reflects nationwide … Read more
Attorney General James Uthmeier wants to “disincentivize people” to gamble on unregulated channels. Representatives Dana Trabulsy and Berny Jacques have filed measures in the House to support Uthmeier’s request. TALLAHASSEE, Fla. – Attorney General James Uthmeier has made it very clear that going after “unlawful … Read more
Coinbase sued Michigan regulators to prevent state gambling laws from applying to prediction markets it claims fall under federal jurisdiction. Michigan officials warned operators that offering sports event contracts would threaten their licenses, but DraftKings and FanDuel launched anyway. The dispute will likely reach the … Read more
The NFL urged Congress to address prediction markets operating in all 50 states without the regulatory oversight that governs legal sports betting. League officials warned that prediction markets could handle significantly larger wagering amounts than traditional sportsbooks while lacking proper integrity protections. The NFL called … Read more
A Massachusetts judge is deciding whether to block Kalshi from letting people bet on sports games, questioning if Wall Street financial rules really should apply to predicting who wins a sports game. Kalshi claims it runs a federally regulated trading platform, but the state argues … Read more
Polymarket is letting U.S. users back in after a four-year ban, starting with sports betting and planning to expand into other markets soon. Fanatics launched its prediction market app in 24 states this week, including California and Texas where traditional sportsbooks are still unregulated. Both … Read more