CFTC Sues Kentucky in Legal Battle Against States
The US markets regulator, the Commodity Futures Trading Commission (CFTC), has served a ninth state with legal papers as it looks to stop Kentucky’s efforts to regulate prediction markets.
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The US markets regulator, the Commodity Futures Trading Commission (CFTC), has served a ninth state with legal papers as it looks to stop Kentucky’s efforts to regulate prediction markets.
Kalshi is suing Illinois to block the state’s plan to require prediction markets operators to get licenses and pay taxes, set to start next week.
Kalshi co-founder and CEO Tarek Mansour confirmed the prediction market giant is considering a potential IPO.
Meta is reportedly working on a prediction market app internally known as Arena, commissioned by CEO Mark Zuckerberg, to rival Kalshi and Polymarket.
Meta Platforms is reportedly exploring a new prediction market application as chief executive officer Mark Zuckerberg is pushing a small internal team to develop a product that would compete with well-established players like Kalshi and Polymarket.
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Kalshi has added India to its list of restricted jurisdictions, preventing users in the country from accessing and trading event contracts on the platform following regulatory action under India's new online gaming framework.
Prediction markets hit a record $5 billion during the 2026 World Cup, with trading on Polymarket and Kalshi drawing high-value wagers in real time.
Minnesota state authorities have accused President Donald Trump of actively trying to regulate prediction markets for personal gain in a new court filing as part of their legal battle with the industry.
The 2026 World Cup group stage continues with Netherlands vs. Sweden kicking off at 1 p.m. ET on FOX from NRG Stadium in Houston, Texas.
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Sign up using the SportsHandle Kalshi promo code HANDLE ahead of Switzerland vs. Bosnia-Herzegovina at 3 p.m. ET on FOX to get set up with with a straightforward “Trade $10, Get $10” bonus.