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Prediction Market

All articles tagged with #prediction market

Kalshi suspends NC candidate over self-bet on campaign, imposes $2,500 fine
politics3 days ago

Kalshi suspends NC candidate over self-bet on campaign, imposes $2,500 fine

Kalshi suspended North Carolina GOP candidate Laurie Buckhout for placing bets on her own campaign, fining her $2,500 and banning her for three years after she cooperated with the inquiry and admitted bets under $1,000. Buckhout is challenging Democrat Rep. Don Davis in a district Republicans hoped to flip. The article also notes Kalshi’s permanent ban of former Rep. George Santos for likely insider trading, the first such ban in the company’s history.

via Spectrum News|
#don-davis#kalshi#laurie-buckhout
JPMorgan Cuts Polymarket Banking Ties Amid Regulatory Scrutiny
business20 days ago

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
New York targets Kalshi, arguing its prediction market is illegal gambling
politics1 month ago

New York targets Kalshi, arguing its prediction market is illegal gambling

New York Attorney General Letitia James filed a state-court suit against Kalshi, alleging the online prediction market operates as illegal gambling because Kalshi did not obtain a NY gambling license or pay taxes. The state seeks an injunction, fines, restitution, and the forfeiture of profits. Kalshi countered that the case is politically motivated and noted federal regulation via the CFTC. The dispute highlights a broader clash between state gambling laws and federal oversight of prediction markets, with related actions in Rhode Island and ongoing court battles over jurisdiction between NY and the CFTC.

via CNN|
#gambling#kalshi#letitia-james
Kalshi Eyes IPO Path After Surging to Over $2B in Annualized Revenue
business2 months ago

Kalshi Eyes IPO Path After Surging to Over $2B in Annualized Revenue

Kalshi, an eight-year-old prediction-market platform, surpassed $2 billion in annualized revenue driven by sports-event bets (NBA and World Cup), prompting informal talks with investment banks about a future public offering; Kalshi is exploring bank integrations to reach institutional clients, but a listing is not expected until late next year or 2028.

via The Information|
#business#fintech#ipo-talks
Kalshi Valued at $22B After $1B Funding, Targets Institutional Traders
business4 months ago

Kalshi Valued at $22B After $1B Funding, Targets Institutional Traders

Kalshi raised $1 billion at a $22 billion valuation led by Coatue, signaling strong investor interest in prediction markets as the platform expands beyond retail users toward institutional traders, with about 2 million monthly users, roughly $178 billion in annualized trading volume and over $1.5 billion in annualized revenue; the company plans more data integrations and block trades for corporates and hedge funds, while regulators and competitors pose ongoing challenges.

via The New York Times|
#business#coatue#funding
Prediction markets flag Powell's near-term exit from the Fed Board
business4 months ago

Prediction markets flag Powell's near-term exit from the Fed Board

Prediction markets Kalshi and Polymarket are pricing in a Powell exit from the Federal Reserve Board soon—30% by June on Kalshi and 87% between May 15–22 on Polymarket—with Powell set to address reporters after the Fed meeting; his departure hinges on the DOJ inquiry, which was dropped, and Warsh’s nomination advancing in the Senate; if Powell delays, he could stay through two more meetings into August, though his governor term runs to 2028.

via CNBC|
#business#fed#kalshi
Minnesota State Senator Banned by Kalshi for Self-Bet in 2nd District Race
politics4 months ago

Minnesota State Senator Banned by Kalshi for Self-Bet in 2nd District Race

State Sen. Matt Klein (DFL) was suspended for five years and fined $539.85 by Kalshi after the platform found he bet on the outcome of his own 2nd District race; Klein says the $50 bet was a curiosity and he regrets it, while Kalshi frames the action as part of a broader crackdown on political insider trading and Minnesota lawmakers’ efforts to ban prediction markets.

via Minnesota Reformer|
#insider-trading#kalshi#matt-klein
Kalshi halts three candidates for trading on their own races
politics4 months ago

Kalshi halts three candidates for trading on their own races

Kalshi, a prediction-market platform, suspended three political candidates after an internal probe found they placed bets on their own campaigns, labeling it 'political insider trading' and sanctioning them under its rules aligned with CFTC oversight. The exact trade amounts weren’t disclosed. Kalshi says fines will be donated to a nonprofit educating consumers about financial markets. The move underscores bipartisan concerns about election integrity in the growing prediction-market space and follows a prior case, as lawmakers consider new limits and courts navigate the regulatory landscape surrounding election contracts.

via CNN|
#cftc#elections-2026#insider-trading
MLB Taps Polymarket for Exclusive Prediction Markets in Multiyear Pact
business5 months ago

MLB Taps Polymarket for Exclusive Prediction Markets in Multiyear Pact

Major League Baseball signed a multiyear deal making Polymarket the exclusive MLB prediction-market partner, allowing use of team logos though terms were not disclosed (some reports suggest a sizable, multi‑hundred‑million figure). The agreement follows similar moves by the NHL and MLS and includes coordination with the CFTC to protect game integrity by restricting markets tied to pitches, manager decisions, or umpire calls. Sportradar remains MLB’s data distributor, and Polymarket and Kalshi are drawing significant investment as the broader prediction-market sector grows.

via Front Office Sports|
#business#cftc#integrity
Arizona accuses Kalshi of illegal election gambling in 20-count case
business5 months ago

Arizona accuses Kalshi of illegal election gambling in 20-count case

Arizona Attorney General Kristin Mayes filed a 20-count criminal complaint accusing Kalshi of operating an unlicensed gambling business and taking illegal bets on elections in Arizona; each misdemeanor carries a $10,000–$20,000 fine, and the action does not seek an immediate shutdown. Kalshi disputes the charges, saying it is federally regulated, and has begun lawsuits against Utah and Iowa to challenge state actions.

via NBC News|
#arizona#business#elections
Markets push Kyler Murray toward Vikings as next NFL destination
sports6 months ago

Markets push Kyler Murray toward Vikings as next NFL destination

Prediction markets (Kalshi) rate the Minnesota Vikings as Kyler Murray's likely next team after the Cardinals released him, with the Cardinals footing the contract and Murray potentially signing for the veteran's minimum; he would compete with J.J. McCarthy for the starting job if he lands in Minnesota. Other clubs tied to Murray include the Jets, Falcons, and Rams, and the market's high trading volume signals strong confidence in a Vikings landing.

via New York Post|
#kyler-murray#minnesota-vikings#nfl
Kalshi Withholds Death-Linked Winnings, Sparking Outrage
business6 months ago

Kalshi Withholds Death-Linked Winnings, Sparking Outrage

Kalshi refused to pay out winnings on a $54 million trade tied to the death of Iran’s Supreme Leader Ayatollah Ali Khamenei, citing a rule that markets cannot settle on death; bettors vented anger as Kalshi reimbursed some losses after clarifications, and the episode fueled a broader debate among lawmakers and rivals about the ethics and legality of death-related bets in prediction markets.

via New York Post|
#business#controversy#kalshi