Connecticut sues Kalshi over sports contracts, a Montana judge revives a stalled case, and rivals push into MLB deals and new U.S. markets.
Kalshi
Kalshi is set to hit $200B in trading volume as prediction markets expand into MLB sponsorships, with new details on political lobbying of state regulators.
New York Times reporting says Trump Jr. lobbied GOP attorneys general and the White House briefed North Carolina lawmakers on prediction markets.
Nevada says Kalshi's reliance on a new North Carolina prediction-market tax undercuts its own federal preemption case before the Ninth Circuit.
Kalshi loses more court rounds in Connecticut and Washington as the CFTC unveils a regulatory roadmap for event contracts.
No-deposit prediction platform SafeBets wants sports and politics fans to fuel growth, then mine top forecasters for financial-market trading signals.
CME Group's Terry Duffy sparred with Kalshi's co-founder at a CFTC hearing as horse racing's watchdog charged a respected handicapper with insider trading.
A new Gallup survey finds gambling participation down sharply since 2016, but researchers say phone polling may be missing sports betting and prediction-market activity.
The CFTC-regulated sports exchange topped $125M in its debut week while fighting New York, Massachusetts and three other states over gambling law claims.
A Connecticut judge denied Kalshi's injunction bid, questioning CFTC power, as new geofencing deadlines and a White House meeting loom this week.