Utah Governor threatens legal action over prediction markets
Public dispute escalates between state leadership and federal commodities regulator.
Public dispute escalates between state leadership and federal commodities regulator.
In a tonal shift, Selig has vociferously defended prediction markets on X and in the Wall Street Journal, while the CFTC has backed Crypto.com in the courts.
The Dutch authority has said that a fine of €420,000 ($496,000) per week will be issued if Polymarket does not comply, up to a maximum of €840,000.
The DraftKings CEO and CFO address investors in the wake of the operator’s latest financial results and subsequent share price plummet.
The IAC will assist in determining how ‘breakthrough innovations,’ such as AI or blockchain technologies, can help the CFTC form ‘adaptive regulations’ and maintain financial oversight.
The operator’s net revenue for the fourth quarter of 2025 equates to 43% growth year-over-year, while net revenue during FY2025 increased 27% for a total of nearly $6.1bn.
The operator reported its financial results for Q1 fiscal year 2026 on February 12, witnessing a 0.2% decrease in net revenue to $434.5m, as well as a 3.4% fall in adjusted EBITDA to $86.4m.
A memorandum of understanding between the two companies will facilitate the launch of this upcoming political prediction market.
The state’s Attorney General’s Office believes Kalshi ‘harms the public’ by offering sports betting while failing to comply with similar regulatory oversight as licensed operators in Nevada.
The three separate class action cases lodged against Kalshi in New York over the past four months will now be litigated together.