The coalition says conflicting appeals court rulings have left uncertainty over whether CFTC-regulated sports event contracts must comply with state gambling laws.
The Tunica-Biloxi Tribe of Louisiana unveiled plans to launch the first-ever Tribal prediction market app with Kalshi on September 18, following the issuance of a no-action letter from the CFTC.
The operator’s agreement with the MGCB follows a similar decision made by Robinhood on September 9, choosing to wait out ongoing legal disputes between state regulators and Kalshi.
The US 500 serves as an ‘index of America’s largest companies weighted by market cap,’ according to Kalshi, while perpetual futures are derivatives which lack an expiration date.
The Sixth Circuit previously ruled against Kalshi in disputes with Ohio and Tennessee, believing the operator failed to establish its sports event contracts fall exclusively under federal regulation.
Both organizations requested a Supreme Court review of the Flaherty v. Kalshi case, in which the court found that federal law ‘likely preempts’ state regulation against prediction markets.
A controversial ad has delivered a major boost for Novig. But can it turn one-off viral attention (and backlash) into lasting engagement?
The event will take place from 2 - 5 November at Fiera Roma.
Polymarket is pushing back against gambling regulators across Europe as it seeks to establish its prediction markets as financial products rather than gambling.
Formerly known as the Canadian Lottery Coalition, the new Alliance was organised by publicly owned lottery and gaming organisations which return profits to help fund public services.