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Kalshi

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Illinois Judge Blocks Prediction Market Rules as Ohio Orders 10 Platforms to Halt Sports Betting
politics3 days ago

Illinois Judge Blocks Prediction Market Rules as Ohio Orders 10 Platforms to Halt Sports Betting

A federal judge in Illinois blocked new state rules on prediction markets, ruling that Kalshi’s sports contracts are likely federally regulated swaps. Meanwhile, Ohio’s casino regulator ordered 10 platforms, including Polymarket and Robinhood, to stop offering sports contracts by October 16, citing a recent 6th Circuit ruling. This creates a fragmented legal landscape where the same app faces different regulations in different states.

via Chicago Sun-Times|
#gambling-regulation#illinois#kalshi
6th Circuit Rules Kalshi Sports Contracts Are Gambling, Not Federal Swaps
legal13 days ago

6th Circuit Rules Kalshi Sports Contracts Are Gambling, Not Federal Swaps

A unanimous 6th U.S. Circuit Court of Appeals panel ruled on Friday that Ohio and Tennessee may apply state gambling laws to Kalshi’s sports event contracts. The court rejected Kalshi’s argument that these contracts are federally regulated 'swaps' under the Commodity Futures Trading Commission (CFTC), stating that such instruments are designed for risk hedging, not sports betting. This decision vacates a preliminary injunction in Tennessee and upholds a lower court ruling in Ohio, deepening a split among federal circuits and increasing the likelihood of Supreme Court review.

via Mashable|
#6th-circuit#cftc#gambling-regulation
6th Circuit Rules States Can Regulate Kalshi Sports Contracts, Deepening Legal Split
legal-and-business13 days ago

6th Circuit Rules States Can Regulate Kalshi Sports Contracts, Deepening Legal Split

The 6th U.S. Circuit Court of Appeals ruled on September 25 that Ohio and Tennessee may apply state gambling laws to Kalshi’s sports-related event contracts. The unanimous decision rejects Kalshi’s argument that such contracts are federally regulated 'swaps' under the Commodity Futures Trading Commission (CFTC). This ruling marks the second major appellate loss for prediction market platforms, following a similar 9th Circuit decision regarding Nevada. The conflicting rulings across circuits have intensified calls for Supreme Court intervention to resolve whether prediction markets are gambling or financial instruments.

via CNBC|
#cftc#gambling-regulation#kalshi
Packers' 1-2 Start and 35-14 Loss to Falcons Spark LaFleur Job Security Panic
sports14 days ago

Packers' 1-2 Start and 35-14 Loss to Falcons Spark LaFleur Job Security Panic

The Green Bay Packers are 1-2 after a 35-14 home loss to the Atlanta Falcons, exposing severe offensive and defensive deficiencies. Head coach Matt LaFleur admitted the offense has lost its identity, citing a dysfunctional offensive line, poor tackling, and high turnover risk. Betting markets now price a 90% chance LaFleur is fired by March 2027, reflecting deep fan and media frustration with the team's early-season collapse.

via Sports Illustrated|
#green-bay-packers#jordan-love#kalshi
Kalshi Faces Existential Legal Threats as Tribal and State Courts Reject Financial Instrument Defense
business-and-legal14 days ago

Kalshi Faces Existential Legal Threats as Tribal and State Courts Reject Financial Instrument Defense

Kalshi is facing a multi-front legal crisis after federal appeals courts ruled its sports contracts are gambling, not financial swaps. The Ninth Circuit blocked the platform on three California tribal reservations, while the Sixth Circuit affirmed state gambling laws in Ohio and Tennessee. These rulings contradict a Third Circuit decision favoring Kalshi in New Jersey, setting the stage for a Supreme Court showdown that could define the industry’s future.

via New York Post|
#business-and-legal#cftc#kalshi
Bitcoin Holds Near $86K as Oil Dips on Hormuz-Reopening Hopes
markets18 days ago

Bitcoin Holds Near $86K as Oil Dips on Hormuz-Reopening Hopes

Bitcoin remains near $86,000 as U.S. stocks post small gains and oil slips on reports Iran could reopen the Strait of Hormuz within a week. The live blog also highlights PayPal’s Meta Muse partnership, SoFi moving its card-program settlements to its SoFiUSD stablecoin, and Kalshi seeking leverage for event contracts to attract institutional traders, reflecting a blend of crypto and traditional financial market activity.

via coindesk.com|
#bitcoin#hormuz#kalshi
Leagues Chase Gambling Cash While Demanding Harassment Controls
sports-business24 days ago

Leagues Chase Gambling Cash While Demanding Harassment Controls

Five major U.S. sports leagues (NFL, NBA, MLB, NHL, MLS) sent a joint letter urging regulators to curb bettor harassment with measures like lifetime betting bans, cross-state exclusion lists, and requiring sportsbooks to monitor and ban abusive accounts, all while continuing to embrace gambling partnerships. The piece argues the move exposes a paradox: leagues profit from betting money yet want to dodge the headaches, and notes the broader risks of gambling addiction and human behavior. The article also points readers to Kalshi as part of the discussion.

via SB Nation|
#gambling#harassment#kalshi
Kalshi and Polymarket: High-Stakes Bets Meet High Scrutiny
business29 days ago

Kalshi and Polymarket: High-Stakes Bets Meet High Scrutiny

Kalshi and Polymarket are the two biggest prediction markets, drawing billions in trades by letting users bet on everything from elections to pop-culture events like Taylor Swift’s wedding. They helped push events like the World Cup into record gambling levels, but have come under increasing scrutiny for insider trading and manipulation, with about 20 states trying to ban them under existing anti-gambling laws.

via The New York Times|
#business#insider-trading#kalshi
Kalshi Rolls Out Gold and Silver Perpetual Futures After CFTC Nod
business29 days ago

Kalshi Rolls Out Gold and Silver Perpetual Futures After CFTC Nod

Kalshi has won CFTC approval to list perpetual futures on gold and silver, expanding its offerings beyond prediction markets. The no-expiration contracts track metal prices via a funding mechanism and launched this week; Kalshi plans to add perps on copper, U.S. equities, and currencies in the future, asserting that a regulated platform provides a safer path to growth than unregulated rivals while traditional exchanges consider the potential disruption.

via CNBC|
#business#cftc#gold
Kalshi reverses WMU-Michigan call after chaotic finish unsettles prediction markets
business1 month ago

Kalshi reverses WMU-Michigan call after chaotic finish unsettles prediction markets

Kalshi prematurely treated Western Michigan as the winner in the WMU-Michigan game, then reversed the call, reimbursed losers, and paid out correctly after the final result was clarified. About $18.6 million in market volume was affected, highlighting the risk of live-event rulings in prediction markets and the need for patience until final, verifiable outcomes are established.

via NBC Sports|
#business#kalshi#michigan-wolverines
Rothera poised to boost Robinhood's prediction markets ahead of football season
business1 month ago

Rothera poised to boost Robinhood's prediction markets ahead of football season

Piper Sandler says Robinhood's Rothera, the CFTC-approved football-contract prediction market launched with Susquehanna, should lift volume ahead of NFL/NCAA football season as about 23% of Robinhood's prediction activity has shifted from Kalshi since June. The firm lifted its 2026–27 EPS targets and price to $145, and forecasts roughly 29.7 billion event contracts and about $320 million in revenue for September–December 2026 (roughly $960 million annualized). Rothera launched in June; Kalshi’s football share remains meaningful but less dominant than during past seasons.

via CNBC|
#business#football#kalshi