Minnesota lawmakers advanced a bipartisan bill that would ban sports prediction markets and pop culture event bets, targeting contracts on NBA games, MLB totals, and award shows with felony penalties.
Washington Attorney General Nick Brown has sued KalshiEx LLC for illegal gambling, alleging the popular online platform’s event contracts violate state law and exploit users through deceptive marketing practices.
A U.S. judge just issued a CFTC Arizona temporary restraining order, blocking state criminal charges against event contracts and delivering a major federal preemption victory under the Commodity Exchange Act.
In a landmark victory for federal authority, the CFTC won a temporary restraining order blocking Arizona’s criminal prosecution of KalshiEX LLC, halting state gambling charges against the regulated derivatives platform.
In a landmark victory for prediction markets, the Third U.S. Circuit Court of Appeals upheld preliminary injunctive relief Monday, allowing Kalshi to continue offering event contracts under exclusive CFTC jurisdiction and blocking New Jersey enforcement.
The CFTC has launched an unprecedented legal offensive, suing three states to assert exclusive federal control over prediction market regulation and strike down conflicting state gambling laws.
Tribal nations strike back in federal court, suing Kalshi and Robinhood for enabling illegal sports betting that threatens their exclusive casino monopolies and vital community revenue streams.
The Ninth Circuit just turned its April 16 oral arguments into a quadrupleheader showdown. Kalshi’s dramatic remand appeal joins three major preemption cases, setting the stage for a landmark clash over federal authority in prediction markets.
States have unleashed a powerful new weapon in their regulatory arsenal: first-filed civil enforcement proceedings in state court. The recent preliminary injunction against Coinbase marks a decisive turning point, forcing prediction market platforms to confront swift, enforceable restrictions on unlicensed event contracts.
Congress is racing to regulate prediction markets with a flurry of bipartisan bills targeting insider trading on Polymarket. Yet legal experts warn the core enforcement problems may remain unfixable.
