North Carolina budget advances 6% tax on prediction market operators Craig Corbeels North Carolina lawmakers advanced a wide-ranging budget bill Wednesday that would create a new tax on prediction market operators while leaving those platforms outside the state’s gambling regulatory framework. The Senate approved the budget on second reading in a 37-19 vote … Continue reading North Carolina budget advances 6% tax on prediction market operators
Polymarket battles cyberattack while regulatory pressure intensifies across American prediction markets Suswati Basu Polymarket is dealing with mounting problems on several fronts after a phishing campaign stole millions of dollars from users just as the prediction market platform faces growing pressure from lawmakers, regulators and fresh criticism over its marketing strategy and public … Continue reading Polymarket battles cyberattack while regulatory pressure intensifies across American prediction markets
Federal agencies join Kalshi lawsuit challenging Rhode Island prediction market enforcement authority Suswati Basu The federal government has stepped into Kalshi’s legal fight with Rhode Island, arguing the state cannot use its gambling laws to restrict federally regulated prediction market contracts. The move widens the dispute over who controls event-based financial products tied … Continue reading Federal agencies join Kalshi lawsuit challenging Rhode Island prediction market enforcement authority
CFTC sues Kentucky over prediction markets amid regulatory battle Suswati Basu The Commodity Futures Trading Commission (CFTC) has taken Kentucky to federal court, accusing the state of overstepping its authority in a growing dispute over prediction markets and event-based contracts. A lawsuit filed June 23 in the U.S. District Court for the Eastern … Continue reading CFTC sues Kentucky over prediction markets amid regulatory battle
Meta’s ‘prediction market plans’ draw attention as shares slip Suswati Basu Meta shares traded near $ 562.20 and fell roughly 5.3% over the past five sessions as investors weighed a report that the company may be developing a standalone prediction market application. The New York Times reported that Chief Executive Mark Zuckerberg has … Continue reading Meta’s ‘prediction market plans’ draw attention as shares slip
Steil introduces bill restricting congressional prediction market trades Suswati Basu A new House proposal would block members of Congress and their immediate families from taking part in certain prediction market trades linked to government decisions, political developments, and information obtained through public service. House Administration Committee Chairman Bryan Steil introduced the Stop Lawmakers … Continue reading Steil introduces bill restricting congressional prediction market trades
More lawsuits, more insider trading claims, today in prediction market news LIVE Suswati Basu Today in prediction market news, we’re tracking the biggest developments across the industry in real time, from fresh lawsuits and insider trading allegations to regulatory battles, market-moving legislation, and other major stories shaping prediction markets, sports event trading, and … Continue reading More lawsuits, more insider trading claims, today in prediction market news LIVE
Not everything you can bet on is gambling, says CFTC in new prediction markets proposal Suswati Basu A new proposal from the Commodity Futures Trading Commission (CFTC) is setting the stage for what could become one of the prediction market industry’s favorite recurring traditions, i.e., arguing with regulators. The agency has released a … Continue reading Not everything you can bet on is gambling, says CFTC in new prediction markets proposal
ProphetX secures CFTC approval to launch regulated sports prediction exchange Suswati Basu ProphetX has received approval from the Commodity Futures Trading Commission to operate as a federally regulated sports-focused exchange in the United States. The New York-based company said the regulator approved its applications to register as both a Designated Contract Market (DCM) … Continue reading ProphetX secures CFTC approval to launch regulated sports prediction exchange
Illinois budget bill targets sports prediction markets with unique transaction tax Suswati Basu Illinois lawmakers have signed off on a budget measure that would create what appears to be the first state tax aimed specifically at sports event contracts traded through prediction markets. The provision was included in the wider revenue package contained … Continue reading Illinois budget bill targets sports prediction markets with unique transaction tax
