Following the CFTC's inclusion of event contracts within the term "swaps," Kalshi has filed a petition for rehearing in the Sixth Circuit court.
More than 20 Polymarket users face potential prosecution.
The NBA is calling for greater oversight of prediction markets amid growing concerns over sports integrity and potential insider trading.
Sean Fern joins as the prediction market operator faces closer scrutiny of customer checks and suspicious trading.
The Commission stated wagers placed on sportsbooks and casino games would not be included in the definition, instead referring to sports event contracts as ‘financial instruments.’
The operator recently partnered with actress Sydney Sweeney for a new advertisement campaign, citing a ‘just sports’ offering in favor of additional contract markets.
The Oklahoma Indian Gaming Association reiterated its sector’s anti-prediction market stance this week. Yet the Kalshi x Tribal partnerships that sparked the association’s statement paint a vivid picture of fragmentation slicing right through the US gaming ecosystem.
Speakers at a Hong Kong fintech event argued for financial-market regulation, while acknowledging that Asian jurisdictions may classify event contracts differently.
The amendment, effective 9 October, addresses how bets on the US midterms are settled and when stakes may be refunded.
Norway’s gambling regulator, Lotteritilsynet, is targeting 62 unlicensed sites, including the two prediciton markets operators.