Ohio regulators hit Kalshi, a popular online prediction market, with a $5 million fine for running sports bets without a proper license. The state’s gambling watchdog announced the penalty in mid-April, calling out the company for ignoring rules that took effect in early 2023. Since then, Ohio has r
The Commodity Futures Trading Commission (CFTC) is making a bold move to claim full control over prediction markets, a fast-growing sector blending cryptocurrency with event-based betting. Instead of waiting for states to set rules, the agency is suing three states— Arizona, Illinois, and Connecticu
A US senator is asking major sports organizations tough questions about their growing relationships with gambling companies. The letter targets six leagues—NFL, NBA, NCAA, MLB, NHL, and MLS—asking for details on partnerships with sportsbooks and prediction markets. Concerns include protecting athlet
Prediction sites let people bet on almost anything, from sports scores to movie winners. They have grown fast and now attract millions of users who love the thrill of guessing outcomes. Some argue they’re just another form of gambling, while others say they offer useful data that can help businesses
A recent court decision flipped the script on how sports betting might be regulated in the future. A federal appeals court ruled that prediction markets—where people bet on sports outcomes—don’t fall under state gambling laws. Instead, they’re treated like financial contracts, overseen by a federal
Big banks smell money in prediction markets—places where people bet on real-world events like election outcomes or sports results. Jamie Dimon, CEO of JPMorgan, casually mentioned his firm might jump in, but ruled out betting on sports or politics. Goldman Sachs is already deep in talks with leading
P2P. me, a startup that turns stablecoins into cash, made headlines for a risky decision: betting on its own fundraising round through the prediction‑market site Polymarket. The company said it earned less than $15, 000 from the bets, but the action hurt its reputation and made investors uneasy.
The governor has issued a new rule that stops state workers from using prediction markets to bet on things that could affect their jobs. This move comes after reports that some people with inside information were making large profits by placing bets before big news. The law says that anyone wh
Prediction platforms that let users bet on events like elections, sports games and pop culture shows are facing a possible legal crackdown. A bill called the STOP Corrupt Bets Act is set to be filed in the Senate, while a House version will follow soon. The new law would prohibit trading on many
Senators and a representative introduced a new bill that would bar bets on elections, wars, and sports. The move follows recent wagers that predicted big events such as a Venezuelan president’s ousting and a Middle East conflict. Critics argue that allowing anyone to bet on government actions
