Prediction Markets news

Italy's customs and monopolies regulator has ordered internet providers to make Polymarket and hundreds of other sites unreachable, reasserting that a prediction market operating without an Italian concession is simply an unlicensed gambling operator. It is Polymarket's second Italian blackout in nine months.

A Manhattan federal judge has ruled that Kalshi's federal registration does not shield its sports contracts from New York gambling law, the prediction-market sector's most significant legal setback to date. The decision clears the way for state regulators and the Attorney General to pursue enforcement, and Kalshi has already appealed.

An Ingham County judge has granted a 14-day temporary restraining order barring prediction-market operator Kalshi from offering sports event contracts to anyone in Michigan, with noncompliance carrying a penalty of $120,000 per day. It is the latest state to treat the federally registered exchange as an unlicensed sportsbook.

The prediction-market exchange is raising fresh capital at roughly twice its most recent valuation, with the World Cup pushing trading volumes higher. A potential 2027 listing is now on the table.

A new analysis argues that crypto-based [prediction markets](/glossary) operating outside traditional banking oversight could make football's biggest tournament a channel for money laundering, illicit betting and match manipulation. With global World Cup wagering estimated to exceed $50 billion, the report frames the integrity risk as structural rather than incidental.

Nevada's gaming regulator wants KalshiEX held in contempt, and hit with penalties of up to $120,000 a day, for letting people inside the state trade event contracts a court told it to block. The twist: federal judges have just ruled the opposite way, leaving the same product protected in one forum and prosecuted in another.

Polymarket has reportedly removed the waitlist on its US iOS app, opening its prediction-market exchange to general American users for the first time since 2022. The comeback rests on its $112 million QCEX acquisition and a CFTC no-action letter, and it sharpens an already intense rivalry with market leader Kalshi.

The most consequential US gambling story of the year has just unfolded inside one company. Amy Howe is out at FanDuel, the sportsbook is bleeding customers and Flutter is betting nine figures on prediction markets to fix it.

Four years after being forced out of the American market, Polymarket is reportedly in discussions with the CFTC about a full domestic return. The timing could not be more politically charged.

The CFTC is no longer just defending prediction markets in court. It is now going on the offensive against the states trying to shut them down. New York is the latest target in a rapidly expanding federal legal campaign.

New York's Attorney General is calling prediction markets what she says they really are: illegal gambling. The lawsuits against two of crypto's biggest names mark a significant escalation in the state versus federal battle over who controls this fast-growing sector.