The legal tussle involving Kalshi against state regulators has reached yet another significant stage following the dismissal of the latest legal challenge by the appeals court. The ruling handed down on August 28 was unanimous that Kalshi had failed to prove that Nevada’s rules for sports contracts were likely to
The CFTC invoked emergency powers to keep Kalshi operating amid its legal dispute with New York. The commission classified New York’s enforcement action and temporary restraining order request as a market emergency. It directed Kalshi to continue operations under the Commodity Exchange Act and its Core Principles. New York seeks
The largest prediction market platform, Polymarket, is not a place where people bet on elections anymore. The platform is making a deliberate push toward institutional territory. On July 3, Polymarket filed an application through its affiliate, Coming Home GBA LLC, to operate as a futures commission merchant with the National
Kalshi’s recent move into perpetual futures is making waves across the derivatives market. In just two weeks, the prediction market platform’s recently introduced perpetual contracts produced over $5.5 billion in trading volume. It demonstrates the robust demand for regulated derivatives connected to cryptocurrencies in the US. For the business, which
In Kalshi’s legal battle with Ohio, the US Commodity Futures Trading Commission has lent its support, requesting that an appeals court confirm that the commission has authority over prediction markets. On Tuesday, the CFTC submitted an amicus brief to the Sixth Circuit Court of Appeals, accusing Ohio of engaging in
Prediction market platforms Kalshi and Polymarket have planned to launch new rules to curb insider trading and market manipulation as regulatory pressure from Capitol Hill boosts. The March 23 blog post includes the statement of Kalshi, which mentions that it has rolled out new screening tools to block potential candidates
A U.S. appeals court has permitted the state of Nevada to pursue legal action against predictionmarket platform Kalshi. The Ninth Circuit Court of Appeals denied Kalshi’s request to block a possible temporary restraining order (TRO). If approved, Kalshi may have to stop operating in the state for a short time,
Arizona regulators have filed criminal charges against Kalshi, alleging that the prediction market platform has operated an illegal gambling business. The state has filed a twenty-count case against Kalshi. They alleged that the platform has accepted bets on elections, sports, and the performance of individuals. The state has argued that
The US federal court ruling has pushed the risk even higher that Nevada regulators could look for halting prediction-market trading in the state after a judge sent a contest comprising Polymarket’s parent company, Blockratize, back to state court. A federal judge declined arguments that US regulation under the Commodity Exchange
Kalshi, a web-based prediction markets platform, has got a preliminary injunction in Tennessee, hindering state officials from imposing local betting laws against the sports-associated event contracts of the platform. On February 19, U.S. District Judge Aleta A. Trauger gave a decision siding with Kalshi on prominent issues, summarising that the
