10 articles
A unanimous panel held that Kalshi's sports event contracts are not swaps because a game result carries no financial consequence of its own, affirming Ohio's refusal of an injunction and vacating Tennessee's. Three appeals courts have now ruled and Kalshi has won one of them, with New Jersey's petition already waiting at the Supreme Court.
Seven Senate Banking Democrats wrote to Chairman Tim Scott asking that prediction markets be examined in a public, bipartisan hearing rather than the Republican-only roundtable held Wednesday morning with Kalshi's chief executive. Their letter points at Cboe's request to list all-or-nothing options on corporate earnings, a product they argue could reach the SEC's jurisdiction.
Polymarket surrendered more than a third of its monthly volume. Kalshi gave up 7 per cent. The gap says more about the two platforms than the headline decline does.
A unanimous Ninth Circuit panel held that Kalshi's sports event contracts are bets rather than swaps, directly contradicting the Third Circuit's April decision. The CFTC says only the Supreme Court can settle it now.
The letter of intent routes Apex brokerages' crypto prediction trades through Gemini Titan, the CFTC-registered exchange Gemini launched after its December DCM approval.
The KCSC treated Polymarket's Korea-specific markets as evidence the platform targeted domestic users. Removing Korean-language support in July did not save it.
The CFTC handed Gemini's clearing affiliate a Derivatives Clearing Organization licence, giving the Winklevoss-run exchange the right to clear and settle every futures, options and prediction-market trade it routes through its US marketplace in house.
The Commodity Futures Trading Commission has staffed its new Innovation Task Force with five senior advisors drawn from private practice and the agency's own ranks, moving from policy blueprint to drafting actual rules for crypto, AI systems and prediction markets.
New CEO Stephen Gregory is steering the exchange beyond spot crypto trading into prediction markets and derivatives after its US market share collapsed from 20 per cent to almost nothing following a $4.3 billion federal penalty and years of regulatory turmoil.
Robinhood has opened a prediction markets hub through CFTC-regulated exchange Kalshi, offering event contracts on Federal Reserve interest rate decisions and NCAA basketball tournament outcomes.
