Arizona sports contracts lawsuit against Kalshi paused while Ninth Circuit appeals continue Suswati Basu A legal fight over prediction markets and state gambling authority is now on hold in Arizona while federal appeals judges weigh several related cases. Kalshi, the Commodity Futures Trading Commission, the Justice Department, and Arizona regulators jointly asked a … Continue reading Arizona sports contracts lawsuit against Kalshi paused while Ninth Circuit appeals continue
CFTC defends prediction markets authority against mounting state gambling challenges Suswati Basu The Commodity Futures Trading Commission (CFTC) is pressing a federal appeals court to reaffirm that prediction markets fall under federal supervision instead of state gambling enforcement. In a brief filed Tuesday (May 12) with the U.S. Court of Appeals for the … Continue reading CFTC defends prediction markets authority against mounting state gambling challenges
New Mexico tribes challenge Kalshi sports contracts over alleged illegal gambling Suswati Basu Four New Mexico tribes are taking prediction market company Kalshi to federal court, arguing that its sports contracts amount to illegal online sports betting conducted on tribal lands without approval from tribal regulators. The Mescalero Apache Tribe, Pueblo of Isleta, … Continue reading New Mexico tribes challenge Kalshi sports contracts over alleged illegal gambling
Honolulu police raid Kalihi illegal gambling room, arrest two suspects, seizing machines Suswati Basu Honolulu police arrested two people and seized gambling machines, drugs, and cash during a raid on an alleged illegal gambling operation in Kalihi last week, according to the Honolulu Police Department. The raid happened Thursday, May 7, around 7:30 … Continue reading Honolulu police raid Kalihi illegal gambling room, arrest two suspects, seizing machines
How do you self-exclude from prediction markets? Kalshi joins SelfExclude network Suswati Basu A new scheme aimed at protecting consumers in the US has opened up amid the fast-growing world of prediction markets. Kalshi has become the first platform to fully plug into a shared self-exclusion network called SelfExclude, a system designed to … Continue reading How do you self-exclude from prediction markets? Kalshi joins SelfExclude network
CFTC’s unprecedented lawsuits set up Supreme Court showdown over prediction markets Suswati Basu “It’s not a slam dunk at all.” A blunt assessment from former Commodity Futures Trading Commission Special Counsel Peter Sanchez Guarda cuts through the noise around an intensifying legal fight that could redraw the line between finance and gambling in … Continue reading CFTC’s unprecedented lawsuits set up Supreme Court showdown over prediction markets
Tennessee advances felony bill targeting prediction market manipulation amid legal fights Suswati Basu Tennessee lawmakers are pushing ahead with legislation that would make it a felony to try to sway the outcome of events tied to prediction market conduct when money is on the line. The state Senate signed off on Senate Bill … Continue reading Tennessee advances felony bill targeting prediction market manipulation amid legal fights
Minnesota lawmakers push felony ban on prediction market betting platforms Suswati Basu Minnesota lawmakers from both parties are moving ahead with a bill that would outlaw most forms of betting on prediction markets, adding steep criminal penalties for companies and individuals tied to the fast-growing space. Originally filed on March 17, Senate Bill … Continue reading Minnesota lawmakers push felony ban on prediction market betting platforms
