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
Congress faces heated debate over sports prediction markets federal gambling regulatory authority Suswati Basu News Editor Congress is set to hear sharply conflicting testimony Tuesday (July 21) over who should regulate sports prediction markets and whether Congress should step in to redefine them as gambling instead of federally regulated financial products. The committee is … Continue reading Congress faces heated debate over sports prediction markets federal gambling regulatory authority
Washington judge clears path for injunction against Kalshi over prediction markets Suswati Basu A Washington judge has ruled that prediction market operator Kalshi likely violated the state’s gambling and consumer protection laws, paving the way for a preliminary injunction that could require the company to stop offering its event-based contracts to Washington residents … Continue reading Washington judge clears path for injunction against Kalshi over prediction markets
Illinois fights federal injunction bid over prediction markets gambling enforcement dispute Suswati Basu Illinois is asking a federal judge to reject requests that would temporarily block the state from enforcing its gambling laws against sports and election prediction markets, arguing the products are ordinary wagers instead of federally regulated financial instruments. In a … Continue reading Illinois fights federal injunction bid over prediction markets gambling enforcement dispute
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
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
