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Legal Issues
CFTC sues to prevent Rhode Island from applying state gambling laws against prediction markets
CFTC reasserts its exclusive jurisdiction over event contracts as commodity derivatives amid “onslaught” of lawsuits
The Commodity Futures…
Prediction Markets Present Major Opportunity for Gibraltar, Minister of Justice Nigel Feetham Says
While eyebrows were raised when Gibraltar licensed Predictstreet just before the upstart exchange announced a deal as a FIFA World Cup spon…
Are Prediction Markets Rife With Insider Trading? House Oversight Investigates
The House Oversight Committee is launching an investigation into widespread insider trading on prediction markets
Chairman James Comer d…
Tennessee Attorney General fights back against Kalshi ruling
AG Skrmetti fights to protect Tennessee’s authority to regulate sports wagering
Tennessee Attorney General Jonathan Skrmetti has filed an…
EU Court Decision Weakens Malta’s Casino Asset Shield Across Europe
Judges in Austria have received the green light from the European Court of Justice to factor Malta’s well-known protective measures into de…
Rhode Island AG sues Kalshi, Polymarket after preemptive suit
Rhode Island is the latest state to take legal action against prediction markets that offer sports event contracts that resemble state-sanc…
EU court ruling clears path for cross-border freezing of operator accounts
The European Court of Justice (ECJ) said courts can consider Malta’s controversial legal shield of its gambling industry when deciding whet…
Agency that checks prediction markets is in over its head, gambling industry leaders tell Congress
What to know
Bill Miller criticized the CFTC for misinterpreting congressional intent on prediction markets.
The CFTC was authorized to…
Anti-prediction market group kicks off DC ad blitz as industry ramps up messaging
A new group describing itself as a “market integrity watchdog” rolled out a six-figure ad blitz in Washington, D.C., on Wednesday morning…
Kalshi, Polymarket lose bids to halt Nevada and Washington gambling cases
Quick Take
The Ninth Circuit said federal derivatives oversight does not shield prediction market firms from state gaming enforcement…
‘You can bet on it’: Utah lawmakers form united front in push to ban prediction markets
Utah’s heavily Mormon population is largely opposed to all gambling, even on financial exchange platforms
Utah is home to some of the str…
Sweeps Ban Becomes Law in OK after Legislature Overturns Governor’s Veto
Both houses of the Oklahoma Legislature voted to override the governor’s veto, making sweepstakes casinos illegal in the Sooner State
On t…
Minnesota Moves to Ban Prediction Markets. Does the State Have the Authority?
-Minnesota is set to ban prediction markets -If Gov. Walz signs the bill passed by the Legislature, the Commodity Futures Trading Commiss…
Better Markets: ‘Hard to Believe’ Supreme Court Wants CFTC to Regulate Sports Betting
Better Markets asserts that the PASPA repeal made sports wagering a states’ rights issue, leaving no room for federal intervention
The g…
Kentucky Residents Sue Kalshi Over Gambling Losses
In the latest round of legal maneuvers involving prediction market firms, a group of Kentucky residents has filed a federal class-action la…
Wisconsin governor bans insider profit by state employees
(PRESS RELEASE) -- Gov. Tony Evers today signed Executive Order #294, which aims to protect public trust and integrity by prohibiting Wisco…
House Oversight Chair Comer Confirms Prediction Market Probe, Subpoenas Possible
Rep. James Comer, chairman of the House Committee on Oversight and Government Reform, confirmed that the committee has begun investigating…
(CFTC), the federal agency that’s attempting to reclassify bets on everything from the existence of aliens to the point spread on an NHL playoff game as 'financial derivatives'.
It’s not often that financial services has a pop culture breakthrough. But prediction markets are certainly having a moment. From a South P…
Forty-one attorneys general set out case urging the CFTC to affirm that sports-related event contracts fall under state gambling authority
Ohio Attorney General Dave Yost has led a 41-state coalition urging the Commodity Futures Trading Commission (CFTC) to affirm that sports-r…
Limitless Markets Submits CFTC Proposal for 5-Minute Digital Asset Event Contracts
Cayman Island Headquartered Limitless Markets says it specializes in short-term financial trading The prediction market offers trading on t…
Kalshi’s Site Sure Looks Like Sports Betting
WASHINGTON, D.C.— Benjamin Schiffrin, Director of Securities Policy for Better Markets, issued the following statement in connection with B…
NPR went looking for Polymarket's Panama headquarters. It's elusive
On the 21st floor of a gleaming skyscraper in the heart of the upscale Punta Pacifica neighborhood here is the official corporate office of…
Oneida Nation supports DOJ enforcement of state gambling laws
For decades, legal gaming in Wisconsin has been carefully structured under federal law, including the Indian Gaming Regulatory Act and thro…
Massachusetts top court appears open to state ban on Kalshi sports betting
Prediction-markets operator Kalshi on Monday faced a skeptical slate of justices on Massachusetts' highest court, which appeared poised to…
Taking Stock Of The Prediction Market Comments — And What’s Next
As many expected, it rained and poured during the final 48-hour window for submission of comments to the Commodity Futures Trading Commissi…
Mississippi demands state control of mobile sports betting prediction markets
Mississippi recently joined a national battle on prediction markets that mirrors its own long-fought state debate on mobile sports betting…
Mass. gambler sues Kalshi seeking repayment for lost bets
The class-action complaint argues the prediction-market company ran unlicensed sports betting, bolstering the attorney general’s separate p…