Key Highlights: Kalshi has proposed a 10-year West Texas Intermediate (WTI) crude oil contract designed to eliminate monthly rollover costs and physical delivery risks at Cushing, Oklahoma. Unlike typical derivatives, the contract cannot be self-certified and requires direct Commodity Futures Trading Commission (CFTC) review due to its quasi-perpetual nature. The initiative emerges amid heated rivalry ...
Key Highlights: Representative Don Davis has introduced the “No Betting on Your Own Race Act,” proposing civil penalties of up to $10,000 or triple the net financial gain for candidates trading on their own elections. The legislative push follows a high-profile disciplinary action by prediction exchange Kalshi against Laurie Buckhout, Davis’s Republican challenger, who bet ...
Key Highlights Kalshi’s 15-minute crypto and commodity markets generated $20.4 million in fees over a seven-day period ending October 5, accounting for 80% of non-sports fees. While Ether’s short-duration contracts climbed to 318 million in September, gold emerged as a major market driver by recording 542 million contracts traded during the month. Short-duration contracts deliver ...
Key Highlights: Prediction market Kalshi is expanding into financial derivatives by offering perpetual futures contracts tied to stock market exposure. Unlike traditional futures contracts, perpetual futures have no expiration date and rely on periodic funding rates between traders to track the underlying asset index. The move, following an August filing with the Commodity Futures Trading ...
Key Highlights: Prediction market Kalshi submitted a regulatory filing with the US Commodity Futures Trading Commission (CFTC) to introduce perpetual futures contracts linked to the Pepe meme coin. Just two days after the initial submission, the platform abruptly withdrew the proposal. The sudden withdrawal comes despite Kalshi previously listing other major meme tokens, including Dogecoin ...
Key Highlights: The International Association of Gaming Regulators (IAGR) and North American Gaming Regulators Association (NAGRA) have backed New Jersey’s formal appeal asking the Supreme Court of the United States (SCOTUS) to review whether state gambling laws apply to prediction markets. Conflicting judicial rulings across Illinois, New Jersey, Wisconsin, Ohio, and Tennessee have produced a ...
Key Highlights The 6th U.S. Circuit Court of Appeals ruled unanimously that Ohio and Tennessee can enforce state gambling laws against Kalshi’s sports prediction markets, rejecting the platform’s claim that its contracts fall under exclusive federal CFTC jurisdiction. The decision reverses a Tennessee federal district court ruling that had favored Kalshi while upholding an Ohio ...
Key Highlights A federal appeals court ruled that Kalshi’s sports-event contracts are not federally regulated swaps, rejecting the prediction market’s argument that they fall under Commodity Futures Trading Commission jurisdiction. The three-judge panel agreed Kalshi had standing to sue but determined its contracts do not depend on events “associated with a potential financial, economic, or ...
Key Highlights The CFTC issued a staff advisory warning that “mention markets” — betting on what a specific individual might say or do — are “presumptively readily susceptible to manipulation.” The regulator distinguishes these markets from standard event contracts because outcomes depend on “the discrete conduct of a named person” rather than independently generated, externally ...
Key Highlights The Commodity Futures Trading Commission is reviewing unusual trading patterns on Kalshi involving nearly one million ether perpetual futures trades clustered around $5,500, representing over $5 billion in volume. Kalshi denies wash trading allegations, attributing the pattern to market makers maintaining fixed resting orders and hundreds of distinct traders participating in the transactions. ...
Key Highlights Analyst Beni alleges wash trading on Kalshi’s ether perpetual market, citing repetitive $5,500 trade sizes accounting for up to 58% of volume across four days as “undeniable proof” of manipulation. The allegations center on a CFTC-filed rebate schedule allowing Self-Clearing Members to trade at net-zero fees via a 0.3-basis-point maker rebate offsetting a ...
Key Highlights Polymarket faced a $10 million fraud attempt in February involving stolen debit cards and an 80% deposit rejection rate, prompting the resignation of its U.S. compliance chief and the firing of the U.S. division CEO and other compliance executives. Despite the fraud episode and ongoing CFTC investigations into potential insider trading on events ...