Nevada says Kalshi's reliance on a new North Carolina prediction-market tax undercuts its own federal preemption case before the Ninth Circuit.
CFTC
Kalshi loses more court rounds in Connecticut and Washington as the CFTC unveils a regulatory roadmap for event contracts.
Better Markets' Amanda Fischer says the Clarity Act lacks Senate votes and that states, tribes will prevail against CFTC-backed prediction markets.
CME Group's Terry Duffy sparred with Kalshi's co-founder at a CFTC hearing as horse racing's watchdog charged a respected handicapper with insider trading.
The CFTC-regulated sports exchange topped $125M in its debut week while fighting New York, Massachusetts and three other states over gambling law claims.
A Connecticut judge denied Kalshi's injunction bid, questioning CFTC power, as new geofencing deadlines and a White House meeting loom this week.
HB 2711 would add consumer safeguards for sports event contracts in Pennsylvania, but skips licensing or taxation as Kalshi fights states in court.
Kalshi lost in Connecticut and Washington state courts this week as the CFTC took the unusual step of ordering it to keep operating in New York.
Prediction market platforms are referring dozens of suspected insider traders to the CFTC, but a gutted enforcement staff has charged just three people.
Fliff and Onyx Odds have filed to become federally regulated futures brokers, the latest sign sweepstakes operators are eyeing prediction markets.