Arizona is the first state to announce intentions to revoke the license of a sports betting operator, as Underdog has come under fire for their partnership with Crypto.com. Underdog never officially launched sports prediction markets in Arizona. PHOENIX – Arizona is set to revoke the … 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
The Louisiana Gaming Control Board sent a letter to licensed sports betting sites in the state stating that it views sports prediction markets as illegal. In the letter, the board stated that licensed operators who are partnered with prediction services may have their licenses rescinded. … Read more
Kalshi locked down an exclusive partnership with CNN that’ll bring its prediction market data to the network’s shows and platforms. The company is dealing with lawsuits from several states and a federal case claiming it wasn’t honest about how its trading system actually works. Even … Read more
New York State Gaming Commission Chair Brian O’Dwyer calls out prediction markets, saying they are a “direct threat to the commission’s authority.” FanDuel and DraftKings have announced their intent to offer sports contracts in December. NEW YORK – Prediction markets are once again under the … Read more
Google CEO’s post on X attracted lots of attention to the release of Gemini 3, which has garnered over $7 million in bets on Polymarket. Kalshi’s injunction in Nevada likely to be overturned, facing opposition from multiple other states as well. MOUNTAIN VIEW, Calif. – … Read more
Kalshi is suing the New York State Gaming Commission after receiving a cease-and-desist notice from the state. Kalshi argues that their sports markets are legal due to the fact that they vary from traditional sports betting sites. NEW YORK – Kalshi has filed a lawsuit … Read more
CME Group plans to launch a prediction market platform offering contracts on economic indicators and potentially sports events by the end of 2025. FanDuel is partnering with CME but has yet to confirm involvement in sports event contracts amid regulatory concerns from states with legal … Read more
Daniel Yee filed a federal lawsuit against Kalshi Inc., alleging the company misled users by promoting unregulated sports betting as legal. Yee claims Kalshi violated state laws by operating without proper sports betting licenses in states like California and New York. The lawsuit seeks a … Read more
Kalshi is rapidly expanding into over 140 countries, including China, following a $300 million funding round that increased its valuation to $5 billion. By operating under a regulated financial market model, Kalshi is able to compete in markets where traditional sports betting remains restricted or … Read more
Kalshi set a new single-day trading record with over $275 million in activity. DraftKings and Flutter Entertainment lost nearly $7 billion in combined market capitalization. Capitol Hill lawmakers are questioning the Commodity Futures Trading Commission’s (CFTC) oversight of prediction market sports contracts. NEW YORK – … Read more
Donald Trump Jr. weighed in on the sports betting debate this weekend, backing calls for Alabama and Georgia to legalize sports betting. ATLANTA – Two of the states without sports betting, Alabama and Georgia, are holdouts in the Southeastern Conference (SEC) region. “Crazy. Totally agree … Read more
