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
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
PHILADELPHIA – Polymarket broke the bank with their latest advertisement announcing their partnership with LeBron James. The new Philadelphia 76er formerly promoted DraftKings, but now moves to the prediction market world as a partner of Polymarket. Step inside Polymarket HQ. Somebody get the ice bath … Read more
BROOKLYN, N.Y. – Underdog daily fantasy sports drafts like their best ball drafts will no longer be available in seven states after Wednesday’s NFL Kickoff. Underdog Drafts will be shut down in Massachusetts, Maryland, Michigan, New Jersey, Pennsylvania, and Ohio as the company shifts their … 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
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
NEW YORK – The Commodity Futures Trading Commission (CFTC) have exercised their emergency powers just six times ever and haven’t done so since 1980. Now, CFTC Chairman Michael Selig has implemented emergency orders twice in the last 30 days to support Kalshi. Kalshi is battling … Read more
Staff wrote that marketing event contracts in bookmaker-style American odds contravenes the rules barring misleading practices. Recipients were asked to review every pricing display they or their partners run and confirm receipt by Aug. 31. Staff grounded the warning in the federal anti-manipulation statute and … Read more
SALT LAKE CITY– Utah can enforce their anti-gambling laws against Kalshi, a federal judge in Utah ruled on Tuesday. The judge rejects Kalshi’s argument that federal regulation includes their sports event contracts and prevents state intervention. Judge Rules Against Kalshi In Utah In simple terms, … Read more