An analysis of Kalshi's own trade data finds sports and crypto contracts made up 95% of August volume, complicating its "swap" defence against state regulators.
CFTC
A CFTC mandate pushed ProphetX, Novig and Kalshi to swap familiar plus/minus odds for percentages, sparking trader backlash south of the border.
NJ petitions SCOTUS as courts split on Kalshi; Michigan tightens its ban, and the NFL presses exchanges over player-injury markets.
A bill filed in Illinois would kill a months-old tax on sports prediction markets, but leaves the state's fight with Kalshi and the CFTC unresolved.
The NFL wants 21+ standards and manipulation safeguards before any official prediction-market deal, as Novig and rivals jostle for football fans.
Prediction market Kalshi disclosed five new enforcement cases, including a lifetime ban for George Santos and penalties on candidates who bet on their own races.
CFTC settlement finds Gabriel Perez used advance access to Trump's speeches to profit on 39 of 43 Kalshi "mention" contracts.
Connecticut sues Kalshi over sports contracts, a Montana judge revives a stalled case, and rivals push into MLB deals and new U.S. markets.
Kalshi is set to hit $200B in trading volume as prediction markets expand into MLB sponsorships, with new details on political lobbying of state regulators.
New York Times reporting says Trump Jr. lobbied GOP attorneys general and the White House briefed North Carolina lawmakers on prediction markets.