Morgan Stanley Upgrades Robinhood as Event Contract Revenue Outruns Crypto
Morgan Stanley upgrades Robinhood to Overweight and lifts its target to $150, citing $156 million in Q2 event-contract revenue that outpaced crypto and equities.
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Prospect Markets Locks Crypto.com Deal to Launch U.S. Sports Event Contracts Before NFL Kickoff
Prospect Markets signed a binding Crypto.com and OG deal to offer U.S. sports event contracts, aiming to go live in Q3 before NFL kickoff and the NBA season.
New Jersey Officially Asks Supreme Court to Decide Who Regulates Sports Event Contracts
New Jersey asked the Supreme Court to decide whether CFTC-registered sports event contracts override state gambling laws after federal appeals courts split, putting Kalshi’s nationwide model in the justices’ path.
Polymarket $21 Billion Valuation Takes Shape as Donald Trump Jr.’s Capital Firm Leads $1 Billion Funding Round
1789 Capital is leading a $1 billion Polymarket round at a $21 billion valuation, adding about $300 million as Donald Trump Jr.’s firm deepens its stake.
Polymarket Intelligence Chief Says Midterm Election Surveillance Systems Can Flag Anomalous Trading
Polymarket’s new intelligence chief says midterm election surveillance is already live, citing machine learning, wallet tracking, and more than 100 law-enforcement referrals as political markets heat up.
Kalshi Lands Exclusive U.S. Open Prediction Market Partnership After Late Qualifying Window
Kalshi sealed a last-minute exclusive US Open partnership after qualifying, locking rivals out of venue and ESPN ads as traders already priced Sabalenka at 23% with $1.5 million in.
CFTC Orders White House Staffer Gabriel Perez to Pay $172,539 After Kalshi Insider Trading Case
The CFTC ordered former White House teleprompter operator Gabriel Perez to pay $172,539 and accept a three-year trading ban after using advance speech drafts to trade Kalshi mention contracts.
Why We Should Reward Research and Informed Trading, And Not View Prediction Market Winners As Cheats
Prediction markets work when they pay for genuine research and informed trading. Treating every information edge as misconduct blurs theft with analysis and weakens the public price signal those markets exist to produce.
Ninth Circuit Denies Prediction Platforms Injunctive Relief on Sports Event Contracts; A Date with The Supreme Court Seems Inevitable
A Ninth Circuit panel denied Kalshi, Crypto.com, and Robinhood injunctive relief, ruling sports event contracts are wagers—not swaps—and remain subject to state gaming laws, deepening a Supreme Court-bound split.
Kalshi Age 18-21 Year Old Trading Volume Hits $5.4 Billion, Driven by Sports Event Contracts
Young adults 18 to 21 have traded $5.4 billion on Kalshi this year, mostly in sports and parlays, reigniting the fight over whether event contracts should start at 21.