Regulatory

As Kalshi blocks Massachusetts users, Polymarket is escalating the battle to the federal court, claiming state gambling laws can’t touch CFTC-regulated prediction markets.

A Massachusetts judge on Friday rejected a request by prediction-markets operator Kalshi to allow it to keep offering sports-events contracts in the state while it appeals an injunction that will lead to it being banned from operating there without a state gaming license in 30 days.Suffolk County Superior Court

Prediction market operator Kalshi is seeking US regulatory approval to allow margin trading on its platform, as it seeks to lure institutional investors with more sophisticated financial contracts. Kalshi has held meetings with the Commodity Futures Trading Commission over several months in its effort to win approval, according to people

Wall Street’s top cop expects regulators to take actions tied to prediction markets following a surge in trading on the platforms over the past year, saying that simply making bets outside of traditional spaces “doesn’t insulate you from fraud.” Manhattan US Attorney Jay Clayton made the comments Thursday

Kalshi on Thursday announced efforts to expand its surveillance and enforcement frameworks as skepticism builds around the booming prediction market industry. The announcement comes days before Super Bowl 60, which has already drawn more than $160 million in prediction market trading volume, according to Kalshi. The platform and its peers

The head of the Commodity Futures Trading Commission said the agency has withdrawn a Biden-era proposal that called for prohibiting sports and politics-related wagers on prediction markets. “The 2024 event contracts proposal reflected the prior administration’s frolic into merit regulation with an outright prohibition on political contracts ahead of

Wall Street’s main derivatives regulator will write new rules for the multi-billion dollar prediction markets industry, the head of the Commodity Futures Trading Commission said Thursday. “It is time for clear rules and a clear understanding that the CFTC supports lawful innovation in these markets,” Chairman Michael Selig said

Even as prediction-market platforms have tested legal and regulatory norms like never before, most have drawn a line at one category: direct wagers on war. Not Polymarket. In recent weeks, the startup — newly backed by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange — has listed a

Polymarket has begun live testing its US exchange by quietly opening up to some users and matching trades ahead of its planned relaunch in the American betting market. The prediction platform says the exchange is fully functional, with select users placing bets on real contracts, as it moves to complete