The nation’s primary media and communications review body has formally targeted Polymarket, initiating a legal review into whether the popular Web3 prediction marketplace violates strict domestic anti-gambling laws.
Following a fierce legal push by Michigan’s Attorney General, a state judge has officially blocked prediction market giant Kalshi from offering sports contracts to residents.
Fresh off a $1 billion Series F round in May, Kalshi is already aiming to nearly double its valuation to $40 billion by Q3 2026.
Aiming to capture a slice of the skyrocketing $130 billion prediction market industry, Meta is experimenting with a dedicated, gamified forecasting app.
CFTC Chair Mike Selig argues that state gaming laws and a aggressive 14.25% excise tax infringe upon federal authority established under the Commodity Exchange Act.
As Bitcoin slumps toward $65,000, prediction markets point to further downside, with traders pricing in a high probability of sub-$50,000 prices before the end of the year.
Unsealed federal charges reveal an internal data leak where an employee wagered $2.7 million on Google’s highly classified Year in Search metrics, sparking widespread regulatory scrutiny into prediction markets.
Escalating the battle over federal vs. state regulatory powers, President Donald Trump vowed to keep the US the “crypto capital of the world” while lambasting governors attempting to enforce local gambling laws on event-contract platforms.
Seeking to shield its domestic digital ecosystem, Jakarta has completely restricted access to Polymarket after the blockchain platform hosted over $46,000 in speculative wagers regarding the length of President Prabowo Subianto’s term.
The battle over the legality of prediction platforms like Kalshi and Polymarket has escalated drastically, with Minnesota becoming the first US state to criminalize the industry, sparking an immediate federal clash.