Prediction Markets
March 10, 2026
Kalshi Expands to Brazil with Brokerage Firm XP
Bloomberg has reported that Kalshi is now expanding further afield in Brazil, following an interview with company co-founder Luana Lopes Lara and the media outlet. Kalshi Delivers on Promise to Expand Further Globally The partnership is part of the company’s broader expansion strategy that will rely on established financial partners overseas rather than seek to […]
Business
March 9, 2026
Underdog Acquires Aristotle Exchange to Launch Event Contracts on Its Own
Underdog, an up-and-coming US sports business, confirmed that it has acquired the Aristotle Exchange DCM and Aristotle Exchange DCO. The first of these two businesses is a designated contract market (DCM), while the other is a derivatives clearing organization (DCO). Underdog to Offer Event Contracts Under Its Own Exchange According to the announcement, the acquisition […]
Prediction Markets
March 9, 2026
Better Markets Slams Prediction Markets as Gambling, Warns of Potential Insider Trading
Better Markets, an independent, nonpartisan, nonprofit organization promoting a healthy financial system, has become one of the latest critics of the growing prediction markets sector. The company echoed claims that the event contracts offered by such platforms constitute gambling and said that the industry has gone far beyond anything the CFTC intended it to do. […]
Prediction Markets
March 9, 2026
Kalshi and Polymarket Eye $20B Valuations Amid Scrutiny
Prediction market giants Kalshi and Polymarket are reportedly aiming for valuations of around $20 billion each, according to sources cited by The Wall Street Journal. Early Talks Both companies have been involved in talks with potential investors regarding possible capital raises that would push their market value to that level. These discussions are still early, […]
Prediction Markets
March 6, 2026
Illinois Moves to Rein In Prediction Markets with Strict New Bill
Illinois lawmakers are considering a proposal that would give the state significant control over prediction markets. This move could mark one of the most ambitious efforts by a US state to regulate the fast-growing sector. If the bill moves forward, it could lead to challenges from the CFTC and platforms like Kalshi, which contend that […]
Prediction Markets
March 6, 2026
Michigan Takes Kalshi to Court, Becoming the Latest State to Tackle Prediction Markets
Prediction markets giant Kalshi has found itself in trouble in yet another state after Michigan’s attorney general launched a lawsuit against its parent company. The complaint asserts that the company violated the state’s gaming laws by offering wagers without a license. Kalshi Finds Itself in Trouble in Another State Michigan Attorney General Dana Nessel has […]
Prediction Markets
March 5, 2026
Police Probe $430,000 Polymarket Bet on Iran Strike Date
Israeli authorities have opened an investigation after a trader on Polymarket made hundreds of thousands of dollars by predicting the timing of last weekend’s joint US-Israeli strikes on Iran. Police Probe Polymarket User Over Precise War Bet The account using the alias “Magamyman,” secured $430,000 after predicting that military action would start on 28 February. […]
Prediction Markets
March 4, 2026
CFTC Chair Selig Teases Looming Prediction Markets Guidance Release
Michael Selig, chair of the Commodity Futures Trading Commission (CFTC), has suggested that a new prediction markets guidance could be released very soon. This came amid continued calls for tougher regulation of the vertical. The Guidance Will Provide Extra Clarity Speaking at the Milken Institute’s Future of Finance 2026 conference, Selig suggested that a guidance […]
Prediction Markets
March 4, 2026
Addictive By Design? Prediction Markets Could Face Legal Problems
Prediction market operators frequently call themselves providers of financial services, something that critics disagree with, pointing out to the fact that they function more like gambling platforms. Generally put, the way legal courts react to these “yes/no” exchanges is likely to significantly shape potential legal responsibilities for the industry. However, J&Y Law experts like founder […]
Prediction Markets
March 4, 2026
Nevada Judge Clears Path for Action Against Prediction Markets
A federal court in Nevada has given state regulators a significant opening in their efforts to curb prediction market platforms that operate within its borders. Nevada Judge Sends Kalshi, Polymarket Cases Back to State Court In twin rulings issued Monday, the US District Court for the District of Nevada determined that disputes involving Kalshi and […]
