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Industry
April 2, 2025
Kalshi Is Under Investigation by the Connecticut Department of Consumer Protection
Connecticut joins several other states in regulating Kalshi as concerns that sports event contracts resemble traditional sports wagering are rising. Connecticut Department of Consumer Protection Opens Investigation Into Kalshi Kalshi is now being investigated by the Connecticut Department of Consumer Protection. According to Kaitlyn Krasselt, a spokesperson for the regulator, Kalshi is suspected of operating […]
Legal
April 1, 2025
Ohio Slaps Kalshi, Robinhood, and Crypto.com with Cease-and-Desist Orders
Some days after Michigan, New Jersey, and Nevada ordered Kalshi and Robinhood to cease and desist, Ohio followed suit, issuing similar orders to several event-based futures contracts platforms. While Kalshi and Robinhood challenged the orders in other states, the regulatory action in the Buckeye State shows mounting pressure against betting alternatives such as prediction markets. […]
Sports
April 1, 2025
Kalshi Sues Nevada Regulators Over Event-Based Trading Dispute
Kalshi, a New York-based financial exchange that specializes in event-based contracts, has sued Nevada gaming regulators questioning their right to control its operations. KalshiEX LLC has filed a case in US District Court in Nevada asking for a permanent order to stop state officials from meddling in its business. Kalshi Defends Federal Oversight as Nevada […]
Legal
March 31, 2025
Kalshi Challenges Cease and Desist Orders in Nevada, New Jersey
The popular prediction market platform, Kalshi, entered the sports vertical after introducing sports event trading contracts earlier this year. It became the latest prediction market to roll out trading on popular sports events in a move that cast waves across the country. Kalshi Files Preliminary Injunction Motions in Two States Kalshi’s actions attracted scrutiny from […]
Industry
March 28, 2025
Kalshi and Robinhood, Slapped with Cease and Desist Orders in NJ
At the beginning of the month, prediction market Kalshi was ordered to cease and desist in Nevada and leave the state by March 14 for allegedly providing event-based contracts that resembled sports wagers without the proper license. Roughly two weeks later, the Nevada Gaming Control Board extended the term, enabling the New York-based company to […]
Industry
March 25, 2025
Kalshi Reports $249M in Prediction Markets in First Rounds of March Madness
March Madness, one of the most heavily bet sporting events of the year, is expected to generate $3.1 billion in legal wagers through traditional sportsbooks, according to the American Gaming Association (AGA). In comparison, Kalshi’s futures contracts, which have now hit $249 million, represent roughly 8% of that total, highlighting the growing interest in alternative […]
Industry
March 19, 2025
Prediction Markets’ Future Analyzed by Bank of America Analyst
The rise of popularity in prediction markets was fueled by the recent Presidential elections in the United States. The offering of futures contracts gained significant speed ahead of the elections and in light of Kalshi’s legal case success against the Commodities Futures Trading Commission (CFTC), the federal regulator in charge of prediction markets. Futures Trading […]
Business
March 18, 2025
Robinhood Unveils Prediction Markets Hub in Time for March Madness
Trading platform Robinhood is seeking to capitalize on the March Madness hype with markets for this year’s edition of the tournament. Customers can expect to find offerings involving their favorite basketball teams and players. The offerings are notably a part of Robinhood’s new prediction markets hub located in the trading platform’s app. The March Madness […]
Sports
March 17, 2025
Kalshi Gets More Time to Answer NGCB Cease-and-Desist Order
Nevada officials have given KalshiEX LLC, a prediction market platform based in New York, extra days to reply to a cease-and-desist order from the Nevada Gaming Control Board (NGCB). The firm, which does business as Kalshi, had to follow the order by March 14, at first, but now the regulators have allowed more time for […]
Industry
March 5, 2025
Prediction Market Kalshi Ordered to Cease and Desist in Nevada
Kalshi, one of the fastest-growing prediction markets in America, has hit a major roadblock in Nevada where it was ordered to cease and desist. Despite seemingly warming up toward such products, the US has yet to regulate them properly and some markets, regulators, and industry stakeholders remain opposed to them. Kalshi Ordered to Exit Nevada […]