The Massachusetts Attorney General has amended its lawsuit against Kalshi, alleging the prediction market targeted users under 21 for sports betting.
A Michigan Judge has temporarily blocked prediction market platform Kalshi from offering sports betting contracts to residents, intensifying the state-federal debate on gambling laws.
Major gambling organizations are pressing U.S. lawmakers to ban prediction markets from sports betting, seeking clearer regulatory boundaries.
A single high-stakes bet on the World Cup on the Polymarket platform resulted in one trader losing $1 million, while another reaped millions.
Former SEC and CFTC Chair Gary Gensler asserts that prediction markets offering sports contracts must adhere to state regulations, challenging their claims of exemption.
The upcoming 2026 FIFA World Cup is anticipated to inject billions into crypto prediction markets, potentially boosting platforms like Coinbase and Robinhood.
The upcoming 48-team FIFA World Cup is anticipated to be a monumental catalyst, driving billions in volume for online sports betting, particularly within crypto prediction markets.
The CFTC has put forward new regulations aiming to distinguish legitimate prediction markets from gambling, potentially impacting how these contracts operate in the US.