NEW YORK – Kalshi claims to not be a sportsbook and doesn’t offer “betting”, instead offering contracts. However, when it’s time to compare their profitability to other financial exchanges, they measure up against legal sports betting sites and stock day trading based on bogus data … Read more
WASHINGTON, D.C. – No members of the U.S. Senate are allowed to use prediction markets after a resolution was passed unanimously on April 30, 2026. The Senate approved the rule change by unanimous voice vote, and it took effect immediately. Bernie Moreno, a Republican Senator … Read more
MADISON, Wisc. – Wisconsin is the latest state to add to a pile of lawsuits on Kalshi’s desk. Attorney General Joshua Kaul’s lawsuit against the prediction company also includes Robinhood and Coinbase, claiming that these prediction market apps facilitate illegal sports betting through trading sports … Read more
COLUMBUS, Ohio – The Ohio Casino Control Commission levied a $5 million fine on Kalshi for offering unlicensed sports betting in the state. However, with the recent production of Kalshi, this punishment will not be enough to scare them off. During March Madness betting, Kalshi … Read more
NEW YORK – For the first time since 2021, the NFL heads into the month of April without an officially partnering sportsbook. FanDuel, DraftKings, and Caesars each had their final league option expire at midnight on March 31st, and none renewed in a surprising turn … Read more
WASHINGTON – What was once a quiet jurisdictional gap has exploded into a full blown Senate battle, as federally regulated online platforms continue to chip away at the sports betting authority states have guarded for years. The Prediction Markets Are Gambling Act was presented on … Read more
MADISON, Wisc. – A clash is taking shape in the Wisconsin State Senate this week, and the outcome could determine where online sports betting in the state goes from here. This week, Republican Sen. Chris Kapenga went after Senate Majority Leader Devin LeMahieu, making it … Read more
The Utah prop betting ban bill, House Bill 243, puts proposition bets under the state’s gambling laws, putting it in direct conflict with federally regulated prediction market platforms. Kalshi took an early offensive, heading to federal court for an injunction before Utah could act, building … Read more
A former Trump official launched a coalition arguing prediction market platforms are illegal sports betting in disguise. Not all Republicans are aligned, with the CFTC backing the platforms while prominent party figures push for state-level regulation instead. States are already taking these platforms to court, … 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
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