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
WASHINGTON – A significant chunk of Americans believe that it should be illegal to place wagers on election outcomes. In fact, 44% of respondents from a Politico survey said betting on political elections, what the president will say, or who will receive a presidential pardon … 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
FRANKFORT, Ky. – Prediction market platforms are banding together against a new tax law in Kentucky which would impose an unprecedented 14.25% tax on prediction market transaction fees. Three of the biggest prediction market platforms – Kalshi, Crypto.com, and Polymarket – have formed a coalition … Read more
WASHINGTON – Prediction markets have grown tremendously in popularity over the past few years, but not without plenty of controversy on the legal side of things. The Commodity Futures Trading Commission (CFTC) is the federal agency responsible for regulating such prediction markets and has come … Read more
LAS VEGAS – Nevada continues to be one of the most aggressive states in terms of regulating prediction markets, as a preliminary injunction was granted against Polymarket last Friday. First Judicial District Court Judge Jason Woodbury ruled against the prediction market platform, forcing the operator … Read more
PROVIDENCE, R.I. – Lawsuits continue to pile up when it comes to prediction markets, as the Commodity Futures Trading Commission (CFTC) is now suing the state of Rhode Island for filing lawsuits against Kalshi and Polymarket. Last week, Attorney General Peter F. Neronha filed lawsuits … Read more
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
PROVIDENCE, R.I. – Rhode Island Attorney General Peter Neronha issued a lawsuit against Kalshi and Polymarket late Thursday afternoon. Before they could sue the prediction market operators, Kalshi beat Rhode Island to the punch with a preemptive lawsuit. Kalshi wants protection through an injunction and … 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
WASHINGTON – On Monday, May 18th, the National Council on Problem Gambling (NCPG) announced that it had reached a deal with the prediction market Kalshi for an initiative based around trader health and safety. The deal amounts to $2 million over two years and is … Read more
MADISON, Wisc. – The U.S. District Court for the Western District of Wisconsin made a ruling on Monday, stating that the Ho-Chunk Nation can sue Kalshi for violating its Tribal-State compact. The key piece of this ruling is that the court classified Kalshi’s sports based … Read more