New York City Council Investigates Prediction Market Marketing Tactics
Council Speaker Julie Menin launches probe into advertising by Polymarket, Kalshi, Coinbase and Gemini Titan following claims of deceptive promotions
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Latest updates, press releases, and insights from the volatile world of digital assets.
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CFTC Orders Kalshi to Keep Trading After New York Seeks $36 Billion Shutdown
Federal regulator uses emergency authority to direct the prediction market exchange to continue operations under national derivatives rules amid a major state lawsuit
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CFTC Warns Prediction Markets Against American-Style Gambling Odds
Federal regulator tells platforms to drop moneyline formatting amid intensifying state challenges over sports event contracts
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Gate DexBuilder Rolls Out Event Contracts Builder With $3 Million Grant Initiative
Gate DexBuilder has introduced its Event Contracts Builder and a $3 million grant program to help teams build and scale event contract markets across multiple sectors
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New York Sues Kalshi Seeking $36 Billion Over Alleged Illegal Gambling
Attorney General Letitia James and Governor Kathy Hochul filed suit claiming the prediction market runs an unlicensed gambling operation, seeking a halt to contracts and massive penalties
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Binance.US Plans August CFTC Bid to Enter Prediction Markets
Binance.US intends to seek a designated contract market license from the CFTC next month, aiming to offer regulated event contracts, futures and options as part of its U.S. expansion
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Federal Judge Blocks Minnesota Prediction Market Ban Ahead of August Deadline
A U.S. district judge granted a preliminary injunction preventing enforcement of the state law against CFTC-registered platforms, preserving operations for Kalshi and Polymarket while litigation continues
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Washington Court Blocks Kalshi Sports Contracts in Escalating Federal-State Regulatory Clash
A Washington state judge has granted a preliminary injunction against prediction market operator Kalshi, ruling its sports event contracts likely violate state gambling laws despite federal CFTC oversight. The decision, effective no earlier than August 5, highlights growing tensions between state regulators and federally regulated platforms
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CFTC Blocks Michigan Court Order, Forces Kalshi to Honor Trades
The CFTC has directed prediction market platform Kalshi not to cancel trades involving Michigan residents, creating a direct conflict with a state court ruling and escalating tensions over federal versus state authority in these markets
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North Carolina Sets 6% Tax on CFTC-Regulated Prediction Markets
North Carolina has passed legislation recognizing federal CFTC authority over prediction markets, allowing platforms to operate under national rules while applying a 6% tax on net revenue from state residents starting in 2027. This stands in contrast to higher taxes on sports betting and ongoing disputes in other states
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