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
Kalshi has been ordered to cease and desist operations in Massachusetts. Massachusetts Attorney General Andrea Joy Campbell filed the lawsuit against Kalshi on Friday. BOSTON – Massachusetts Attorney General Andrea Joy Campbell filed a lawsuit on Friday against Kalshi for operating their online prediction market … Read more
Underdog Sports struck a deal with Crypto.com’s derivatives affiliate to launch sports prediction markets on its platform. BROOKLYN – A partnership announced Tuesday makes sports event contracts from Crypto.com | Derivatives North America (CDNA) available inside the Underdog app. For Underdog, a company best known … Read more
The prediction platform recently submitted documents for three new football markets, set to offer point spreads, touchdowns, and over-unders. NEW YORK – Kalshi plans to offer new markets in three categories for football, after filing with the CTFT earlier Monday. Kalshi submitted three documents to … Read more
Kalshi’s attempt to expand its federally regulated sports event contracts into Maryland has hit a legal roadblock. A U.S. District Court judge denied the company’s request for a preliminary injunction, ruling that Kalshi failed to show that federal commodities law overrides state gambling regulation. The … Read more
As Polymarket makes a high-profile return to the U.S. market with full regulatory approval, Kalshi is now under fire in California federal court. These two developments underscore the fates of America’s top prediction market platforms. SACRAMENTO, Calif. – Three federally recognized California tribes – Blue … Read more
DraftKings is in advanced talks to acquire CFTC-licensed Railbird Exchange, signaling a move into regulated prediction markets. Flutter Entertainment has acquired the remaining 5% of FanDuel from Boyd Gaming in a $1.75 billion deal, giving it full ownership of the sportsbook. BOSTON – Two of … Read more
Kalshi is suing multiple states, arguing its event contracts are federally regulated derivatives, not gambling. Federal judges in Nevada and New Jersey have sided with Kalshi in early rulings. The CFTC dropped its appeal over Kalshi’s election markets, signaling a regulatory shift. States like Illinois … Read more
Hawaii House Bill 1308 will undergo a public hearing, but many state agencies have submitted testimony in opposition to the Hawaii sports betting measure. Mississippi went back and forth about adding online sports betting to their laws but their measure SB 2510 died in a … Read more
Alberta’s Bill 48: the iGaming Alberta Act seeks to create a competitive online gambling market. In New Jersey and Nevada, regulators have issued cease-and-desist orders to Kalshi’s sports prediction markets. ATLANTIC CITY, N.J. – Alberta is taking steps to modernize its gambling landscape with the … Read more