Matt Gogel suspended six months after betting on PGA Tour competitions Suswati Basu Matt Gogel will spend six months away from PGA Tour-sanctioned competition after the Tour determined that the PGA Tour Champions member had been betting on golf competitions. The PGA Tour announced the discipline Wednesday (August 26), saying Gogel broke its … Continue reading Matt Gogel suspended six months after betting on PGA Tour competitions
House bill would ban wildfire bets on federally regulated prediction markets Suswati Basu A House proposal introduced Monday (August 17) seeks to stop federally regulated prediction markets from letting traders place bets on wildfires or the destruction they cause. Rep. Michael Baumgartner filed H.R. 10109, called the “Wildfire Event Contract Prohibition Act.” After … Continue reading House bill would ban wildfire bets on federally regulated prediction markets
FlightAware sues Kalshi over flight cancellation betting data trademark use Suswati Basu FlightAware is suing prediction-market operator Kalshi, accusing the company of using its flight-tracking information and trademarks without permission to run and settle wagers on airline cancellations. Filed in federal court in New York, the case names Kalshi Inc., KalshiEX LLC, Kalshi … Continue reading FlightAware sues Kalshi over flight cancellation betting data trademark use
Kalshi CEO says New York rejected $10B tax proposal amid crackdown Suswati Basu Kalshi CEO Tarek Mansour is escalating his company’s fight with New York, saying officials turned down a tax proposal that he estimates could bring the state nearly $ 10 billion over five years. Speaking Monday (August 3) on CNBC’s Squawk … Continue reading Kalshi CEO says New York rejected $10B tax proposal amid crackdown
NCLGS urges states keep control as prediction markets debate intensifies Suswati Basu The National Council of Legislators from Gaming States (NCLGS) has formally backed keeping sports wagering and broader gambling policy under state control as prediction markets continue spreading across the United States. Its Executive Committee unanimously approved a resolution during the group’s … Continue reading NCLGS urges states keep control as prediction markets debate intensifies
Walz orders ethics clampdown targeting state employees using prediction market information Suswati Basu Minnesota Gov. Tim Walz has signed an executive order barring state employees from using confidential or nonpublic government information to participate in prediction markets, saying the measure is designed to strengthen ethics rules and preserve public confidence in state government. … Continue reading Walz orders ethics clampdown targeting state employees using prediction market information
CFTC orders Kalshi to restore unwound Michigan prediction market trades Suswati Basu The Commodity Futures Trading Commission (CFTC) has directed Kalshi to complete pending trades that the prediction market operator had previously unwound after a Michigan state court order. The move leaves the company arguing it is now trapped between conflicting legal demands … Continue reading CFTC orders Kalshi to restore unwound Michigan prediction market trades
Nevada Supreme Court keeps Kalshi injunction alive during gaming laws appeal proceedings Suswati Basu Nevada’s highest court has declined to pause a preliminary injunction against Kalshi as the company continues its appeal in a dispute over Nevada’s gaming laws. In the same order, the court also approved requests from two out-of-state attorneys to … Continue reading Nevada Supreme Court keeps Kalshi injunction alive during gaming laws appeal proceedings
Connecticut tribes seek to join federal lawsuit over controversial sports prediction markets Suswati Basu Connecticut’s two federally recognized tribes are asking a federal judge to let them join the government’s legal fight over sports prediction markets, arguing the outcome could reshape gambling oversight and threaten a major stream of tribal income. The Mohegan … Continue reading Connecticut tribes seek to join federal lawsuit over controversial sports prediction markets
