The Senate passed the Protect College Sports Act 77-22 on Sept. 28, sending it to a House that returns Nov. 9. Section 113 lets athletic associations and conferences restrict eligibility for athletes who took part in sports wagering or sports-related event contracts. Section 123 applies … Read more
The panel found Kalshi’s sports contracts are not swaps because their events carry no inherent financial, economic or commercial consequence. The Commodity Exchange Act would leave both states’ gambling laws intact even if the contracts counted as swaps, the court held. Kalshi lost its bid … Read more
One respondent is named in Thursday’s Manhattan filing: QCX LLC, the entity trading as Polymarket US, with James’s office bringing the case. The count list runs to eight: the state constitution’s bookmaking ban, three Penal Law sections, three under the Racing Law, and the Wire … Read more
Only futures commission merchants and participants Klear admits as self-clearing members could carry margined positions. Event contracts built on sporting contests are excluded entirely from the proposed margin treatment. Kalshi also plans to keep its culture and mention markets off margin trading. The earliest the … Read more
The Ninth Circuit reversed a lower court’s denial of an injunction, siding with the Blue Lake Rancheria and Chicken Ranch Rancheria tribes against Kalshi. The panel held that on tribal land Kalshi’s sports-event contracts amount to Class III gaming, the category the Indian Gaming Regulatory … Read more
Jenna Dewan has reclaimed the betting favorite spot to win “Dancing With the Stars” Season 35 at +200 odds. Harry Shum Jr., who led the market earlier this week, has fallen back to +250 odds. Giada De Laurentiis is favored to be eliminated during the … Read more
Novig requires traders to be 21, three years above the 18-and-up floor Polymarket and Kalshi use. Sweeney approached Novig about an equity partnership and is now on its cap table, chief executive Jacob Fortinsky said. The ad launched four days after LeBron James first teased … Read more
SEATTLE – Player prop markets on Kalshi are riskier than betting at state-regulated sportsbooks because prediction markets won’t void a trade due to injury. Wednesday night’s NFL season opener showed bettors and traders this important difference between predictions and legal sports betting when it comes … Read more
AUSTIN, Texas – They say actions speak louder than words, and sometimes not taking action speaks for itself. In the case of Texas Attorney General Ken Paxton’s stance on Kalshi, his lack of action says plenty to those paying attention. Paxton pushed for strict gambling … Read more
WASHINGTON – Wednesday marked a massive development in the prediction market-sports event contract saga. The U.S. Supreme Court has officially been asked to review the sports prediction market case where Kalshi and states disagree on regulation. New Jersey Attorney General Jennifer Davenport filed the petition … Read more
LAS VEGAS – The U.S Court of Appeals for the Ninth Circuit affirmed a decision to dissolve a Kalshi temporary injunction, allowing Nevada to impose their state gambling laws on Kalshi’s sports event contracts. The three-judge panel decided that the sports event contracts weren’t swaps … Read more
LOS ANGELES – Kalshi announced exclusive, multi-year partnerships with 5 MLB teams; the Atlanta Braves, Boston Red Sox, Los Angeles Dodgers, San Diego Padres, and San Francisco Giants. The partnership includes in-stadium branding, signage, digital promotions, and Kalshi-specific prediction market offers with on-site activations at … Read more