Key Highlights New York Attorney General Letitia James and Governor Kathy Hochul filed a lawsuit Thursday accusing Polymarket of operating an unlicensed gambling business in violation of state law. The complaint alleges Polymarket avoided licensing requirements and taxes that fund public schools, youth sports, and problem gambling treatment, while allowing users aged 18 to 20 ...
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 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 ...
Key Highlights The CFTC issued a no-action letter exempting eligible crypto and prediction market software providers from broker registration requirements, provided they maintain zero trade discretion, never hold user assets, and avoid volume-based commissions. The relief builds on a March precedent granting Phantom Technologies no-action relief, allowing Phantom Wallet to partner with Kalshi as a ...
Robinhood Crypto Volume Surges 61% in August, but Prediction Markets Steal the Show Robinhood Markets reported a sharp rebound in cryptocurrency trading activity during August, though the standout growth story remains its rapidly expanding prediction market business. Crypto Trading Rebounds From July Lows Notional crypto trading volume—the total dollar value of assets bought and sold ...
Riot Games Explores Prediction Market Sponsorships Ahead of League of Legends World Championship Riot Games has entered discussions with prediction market operators Kalshi and Polymarket regarding potential esports sponsorship agreements, according to a Bloomberg report published on September 11. The talks come weeks before the League of Legends World Championship kicks off in October. Riot ...
Elastics Executive Predicts Prediction Markets Will Displace Traditional Commercial Insurance Jan Czarnocki, Chief of Staff and General Counsel at Elastics, appeared on the NEXTPredict Podcast to outline a transformative vision for prediction markets. According to Czarnocki, these platforms are poised to evolve well beyond retail sports betting and eventually displace traditional commercial insurance models. Shift ...
World, a prediction market protocol built on Solana, has formally launched its standalone platform to more than one million users from its waitlist. The rollout moves the service out of its preliminary phase inside the Phantom wallet, where it had operated since July 2026, and onto a dedicated web interface. Market Catalog Exceeds 150,000 Contracts ...
Donald Trump Jr.’s venture capital firm, 1789 Capital, is leading a $1 billion funding round for prediction market Polymarket, valuing the company at $21 billion,…
Kalshi, the regulated U.S. prediction-market exchange, has issued its first permanent trading ban, barring former Representative George Santos and fining him more than $70,000 for…
Kalshi Partners With Alpaca to Expand Prediction Markets Beyond the US Kalshi is partnering with brokerage infrastructure provider Alpaca to expand access to its event…
Hyperliquid has recorded its first reported builder-deployed outcome exchange after OUT completed deployment through the network’s permissionless market framework. Hyperliquid’s block explorer shows a successful…