Tag

Polymarket

All articles tagged with #polymarket

legal-and-regulatory15 days ago•1 min saved

New York Files Suit to Block Polymarket, Citing Unlicensed Gambling

New York State has filed a lawsuit against prediction market platform Polymarket, alleging it operates as an unlicensed gambling entity. The state seeks to block the company from operating in New York, impose fines, and force restitution to users. Polymarket, which employs over 350 people in the state, has vowed to fight the legal action, arguing that its platform functions like a stock market rather than a gambling operation. This move follows similar legal challenges against competitors like Kalshi and highlights the ongoing conflict between state gambling regulators and federal authorities over the classification of event contracts.

via BNN Bloomberg|

#cftc #gambling-regulation #legal-and-regulatory

legal-and-business15 days ago•1 min saved

New York and Polymarket File Dueling Lawsuits Over Prediction Market Regulation

New York State sued Polymarket on Thursday, alleging it operates an illegal, unlicensed gambling platform in violation of state laws. Polymarket responded hours later by filing a countersuit in federal court, arguing that the Commodity Futures Trading Commission (CFTC) has exclusive authority to regulate prediction markets and that state enforcement is prohibited by federal law. The dispute centers on whether event contracts constitute gambling or federally regulated derivatives. New York seeks penalties including tripled gains and $100,000 per illegal wager offer, while Polymarket claims state actions create an 'impossible choice' between compliance and criminal liability. This legal clash follows similar suits against competitors like Kalshi and reflects a broader national conflict between state gambling regulators and federal authorities over prediction market oversight.

via CNBC|

#cftc #gambling-laws #legal-and-business

sports22 days ago•5 min saved

Week 3 Bets Kick Off: McMurphy’s Hot Takes on Tech, UNC, ASU and More

McMurphy delivers a Week 3 college football betting preview via Polymarket odds, laying out nine picks across Texas Tech, North Carolina, Arizona State, Texas State, Georgia, UTEP, Florida State, Maryland, and Purdue with concise “My Position” bets, highlighting an 8-4 rebound last week and an overall 16-14 record, while mixing humor and snippets of current college football drama.

via On3|

#betting #college-football #polymarket

us-politics28 days ago•19 min saved

Minnesota Takes Center Stage in the Prediction Markets Battle

Minnesota became the first state to ban Kalshi and Polymarket over concerns about underage use and links to sports betting, making the state a frontline in the national regulatory fight over prediction markets; a federal CFTC lawsuit could set a precedent for who has authority to regulate these platforms.

via nytimes.com|

#kalshi #minnesota #polymarket

business28 days ago•15 min saved

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

sports-predictions29 days ago•37 min saved

McMurphy's Week 2 Trades: Bold, contrarian college football bets

Brett McMurphy lays out his Week 2 bets using Polymarket odds, offering 11 picks across the slate (Missouri -5.5 over Kansas; Michigan +5.5 at Oklahoma; Oklahoma State +23.5 vs Oregon; Army -3.5 over South Florida; Over 55.5 in Pitt–UCF; Over 48.5 in Alabama–Kentucky; Memphis +8.5 at Boise; Florida International -10.5 over Buffalo; Sam Houston +13.5 vs Tulsa; Georgia Tech +12.5 against Tennessee; and Over 55.5 in Navy–Florida Atlantic), noting last week went 6-6 and this season is 8-10.

via On3|

#college-football #mcmurphy #polymarket

finance29 days ago•23 min saved

Markets Lean Hawkish as PPI Beats Expectations, 61% Hike Odds

August PPI rose 5.4% year-over-year (0.4% month), sending Polymarket odds of a 25bp Fed hike on Sept. 16 up to 61% and flipping the base case to a hike; energy prices and upstream inflation keep pressure in the pipeline as traders await CPI data and watch an elevated front-end yield curve.

via Yahoo Finance|

#fed #finance #inflation

policy1 month ago•9 min saved

SCOTUS Faces a Bet: Federal vs. State Oversight of Prediction Markets

New Jersey has asked the Supreme Court to decide whether prediction markets should be regulated as federal derivatives (under the CFTC) or under state and tribal gambling laws, a clash that could redefine who regulates platforms like Kalshi and Polymarket U.S., reshape the future of sports betting, and affect state taxes and tribal sovereignty.

via Politico|

#cftc #kalshi #policy

markets1 month ago•2 min saved

Prediction Markets Skeptical Bessent’s Moves Will Lower Treasuries’ Yields

Prediction-market traders on Kalshi and Polymarket expect the 10-year Treasury yield to stay around current levels or rise in 2026 rather than fall significantly, despite Treasury Secretary Scott Bessent’s efforts. Kalshi traders assign a 56% chance the 10-year ends 2026 at or above 4.75%, with just a 27% chance above 5%; Polymarket traders put two-in-three odds on the yield crossing 4.8% at some point in 2026. With the yield near 4.7% mid-day and debt surpassing $40 trillion, along with buyback tweaks and potential use of the General Account, traders see any declines as likely temporary.

via CNBC|

#bessent #kalshi #markets

technology1 month ago•4 min saved

Insider-linked bettors dominate $8M in Polymarket military bets

A study of Polymarket bettors finds roughly 150 accounts (the 'orcas') earned about $8 million from military and defense bets, with a 97.2% win rate on longshots; researchers suspect insider links to the accounts and warn that such bets publicly broadcast confidential information on a blockchain, urging stricter identity verification and monitoring.

via Task & Purpose|

#insiders #military-bets #orcas

ipos1 month ago•19 min saved

Markets bet Anthropic could snag 2026's largest IPO, eclipsing SpaceX

Prediction-market data suggests Anthropic could outpace SpaceX to lead 2026's biggest IPO, aided by Bloomberg's forecast of about $65 billion in Anthropic's annualized revenue for 2026; SpaceX has already priced its IPO and reached a multi-trillion-dollar valuation on debut, keeping the crown for now while Anthropic remains private and valued around $1 trillion in private markets.

via Yahoo Finance|

#anthropic #ipo #ipos

business1 month ago•2 min saved

Markets price a 3-in-4 chance PSKY closes WBD deal by 2027 amid lawsuit

Prediction markets Kalshi and Polymarket assign roughly a 74% chance Paramount Skydance will acquire Warner Bros. Discovery by July 2027, down from above 80% before a states’ lawsuit and below the ~66% level after Paramount delayed the deal. Polymarket shows about a 23% chance no deal by June 2027. A federal trial is set for March 2027, with potential extension to June 2027 if regulatory hurdles remain. If the deal isn’t closed by Sept. 30, Paramount owes Warner Bros. shareholders 25 cents per share per quarter until closing. Unions urged faster resolution, and CNBC notes a disclosed relationship with Kalshi.

via CNBC|

#business #kalshi #paramount-skydance

business1 month ago•11 min saved

JPMorgan Cuts Polymarket Banking Ties Amid Regulatory Scrutiny

JPMorgan Chase reportedly ended its banking relationship with Polymarket last year due to regulatory concerns; Polymarket has since found a new lender and says it maintains a close, ongoing relationship with JPMorgan across multiple entities, leaving the door open for JPMorgan to take an underwriting role if Polymarket pursues a public listing. Regulators continue to debate how to oversee prediction-market platforms.

via Yahoo Finance|

#banking #business #jpmorgan

business1 month ago•4 min saved

Baltimore Sues Kalshi and Polymarket Over Unlicensed Sports Prediction Markets

Baltimore filed a lawsuit against Kalshi and Polymarket accusing them of offering sports bets without a license, arguing they compete with regulated sportsbooks while evading oversight, taxation, and responsible-gambling rules. The case reflects a broader national fight over whether prediction markets fall under federal regulation, a battle unlikely to be resolved until the Supreme Court weighs in, even as sportsbooks increasingly explore prediction-market offerings.

via NBC Sports|

#baltimore #business #kalshi

business1 month ago•2 min saved

NYC Council Probes Marketing Tactics of Prediction Markets

New York City’s Council is examining the marketing practices of prediction market platforms, focusing on Kalshi, Polymarket, Gemini Titan, and Coinbase, amid allegations of potentially deceptive advertising. The probe, announced by Council Speaker Julie Menin’s office, aims to determine if tighter rules are needed and will include a forthcoming hearing, though it is not focused on whether the platforms violate state gambling laws. The inquiry follows reporting by The Wall Street Journal about Polymarket’s marketing, which spurred a CFTC investigation; Polymarket has since updated its guidelines, while state litigation in New York targets Kalshi, Coinbase, and Gemini for alleged illegal gambling operations. Coinbase says its markets are federally regulated, and Kalshi and Gemini have not immediately commented.

via CNBC|

#business #kalshi #marketing-practices