Rep. Bryan Steil is advancing a sweeping ban on congressional trading in prediction markets, igniting fierce debate over ethics and innovation as Kalshi and Polymarket volumes hit record highs.
Kentucky Attorney General Russell Coleman has filed explosive lawsuits against Kalshi and Polymarket, accusing the platforms of operating illegal unlicensed sportsbooks through sports event contracts in a dramatic federal-state clash.
On June 16, 2026, Novig’s Ludlow Exchange secured full CFTC Designated Contract Market approval, unlocking nationwide commission-free peer-to-peer sports event trading for traders 21 and older. A major leap for regulated sports markets.
Former CFTC Chair Gary Gensler has filed a sharp amicus brief challenging his former agency’s bid to treat sports event contracts as swaps under Dodd-Frank, escalating a pivotal federal-state regulatory clash.
The White House has launched its review of a sweeping CFTC proposal to regulate prediction markets as President Trump demands exclusive federal control, escalating a high-stakes clash with states and former Chair Gary Gensler.
Spanish regulators have blocked Polymarket and Kalshi, launching disciplinary proceedings against the unlicensed platforms for failing to meet consumer protection standards. The crackdown highlights intensifying global scrutiny on event contract trading.
The CFTC sued Minnesota Tuesday to block the nation’s first statewide prediction market ban, signed by Governor Tim Walz. Federal regulators seek an injunction against the August 1 felony law, asserting preemption.
Minnesota lawmakers passed the nation’s first statewide ban on prediction markets Tuesday, targeting high-stakes contracts on sports outcomes and pop culture events as the bill advances to Governor Tim Walz.
A Wisconsin federal court has cleared the Ho-Chunk Nation to sue Kalshi under IGRA, ruling the tribe is likely to succeed in halting unauthorized sports event contracts offered on Indian lands without consent.
Massachusetts Supreme Judicial Court justices delivered sharp skepticism during oral arguments in the Kalshi sports contracts case, questioning whether these instruments are legitimate swaps or disguised sports bets. The outcome could dramatically reshape sports prediction markets
