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
Better Markets urges courts to let states regulate prediction markets, not CFTC Paul McNally A financial reform advocacy group is urging courts to keep oversight of gambling-style online markets at the state level, arguing that a federal commodities regulator lacks both the authority and capacity to manage them. Better Markets made its case … Continue reading Better Markets urges courts to let states regulate prediction markets, not CFTC
New York lawsuits target prediction market giants Coinbase and Gemini in major showdown Suswati Basu New York Attorney General Letitia James has opened what may become one of the biggest state fights yet over prediction markets, suing Coinbase and Gemini and accusing both companies of running illegal online gambling operations. The paired cases … Continue reading New York lawsuits target prediction market giants Coinbase and Gemini in major showdown
Wisconsin sues prediction market platforms over alleged illegal sports betting operations Paul McNally Wisconsin has filed a civil complaint in Dane County Circuit Court accusing Kalshi, Robinhood, and Coinbase, along with affiliated subsidiaries, of operating what it describes as illegal sports betting through prediction markets and event contracts under state law. The … Continue reading Wisconsin sues prediction market platforms over alleged illegal sports betting operations
Gov. Hochul bans insider prediction market trades for New York State workers Suswati Basu New York Gov. Kathy Hochul has signed an executive order blocking state workers from using confidential government information to make money on prediction markets, calling the practice a threat to public trust. The order was signed on Wednesday (April … Continue reading Gov. Hochul bans insider prediction market trades for New York State workers
Minnesota advances controversial felony ban on prediction markets as scrutiny grows Suswati Basu Minnesota lawmakers are moving ahead with a proposal that would outlaw most prediction markets, pushing the issue further into the spotlight as similar debates unfold in other states. A key Senate panel this week signed off on Senate File 4511, … Continue reading Minnesota advances controversial felony ban on prediction markets as scrutiny grows
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
