FanDuel has added a second regulated exchange to power its prediction market platform, giving customers access to a broader range of sports and entertainment contracts just as the World Cup kicks off.
Federal regulators have drawn their clearest lines yet on which sports prediction market contracts are acceptable — and which ones could get the axe.
Wisconsin filed a motion for a preliminary injunction in federal court this week, calling prediction market sports trading on Kalshi, Coinbase, and Robinhood ‘open, repeated, ongoing criminal violations’ of state law.
Google has banned prediction market advertising in Ohio, making it the second US state affected after Nevada, as regulatory pressure on prediction market platforms continues to intensify.
Sportradar and Kalshi have signed a multi-year global agreement that positions Sportradar as an official data and solutions provider for the world’s largest prediction market platform.
Robinhood has launched World Cup prediction markets through Rothera, a CFTC-licensed exchange it co-owns with Susquehanna International Group, routing core contracts away from longtime partner Kalshi.
The BBB’s National Advertising Division will refer Kalshi to state attorneys general and other regulatory authorities after the prediction market platform declined to participate in an inquiry about undisclosed influencer advertising.
Kalshi has revised its trademark applications with the USPTO, removing references to bookmaking and gambling that contradicted the prediction market platform’s long-standing claim to be a financial exchange rather than a sportsbook.
New Mexico has become the latest state to take Kalshi to court, with Attorney General Raul Torrez filing suit and accusing the prediction market platform of conducting unlicensed online sports betting across the state.
A Nevada judge granted a preliminary injunction barring Polymarket from offering event contracts to state residents, escalating a legal battle over whether prediction market platforms constitute unlicensed gambling operations.
Federal regulators and the Justice Department have opened investigations into former Rep. George Santos over allegations he bet against his own public statements on Kalshi, profiting from the resulting odds shift around President Trump’s State of the Union address.
Illinois lawmakers passed a $55.9 billion budget that includes a 15% tax on fantasy sports operators and new taxes on prediction market sports betting, creating a licensing structure for the DFS industry that operators themselves reportedly supported.
