Rulemaking is on the way for prediction markets, said CFTC Chair Mike Selig, as the agency moves to further assert its jurisdiction.
The proposed offering mirrors the probability-based format common on prediction market platforms like Polymarket and Kalshi.
Kalshi removed its X affiliate badges after the platform tightened rules restricting affiliate promotions tied to gambling-related content.
The judge found Kalshi is likely to succeed in arguing that sports event contracts qualify as swaps under federal commodities law, potentially preempting state regulation.
"We continue to give a slight edge to the states in this legal fight primarily because the states have historically been the regulators of sports gambling."
Bitwise filed for prediction market ETFs tied to the 2028 U.S. presidential election amid state regulatory scrutiny on the sector.
Israeli prosecutors indicted an IDF reservist and a civilian for allegedly using classified military information to place bets on Polymarket.
Courts across the US are split on whether sports-related prediction contracts qualify as regulated financial products or unlicensed gambling.
Sports contracts continue to dominate predictions market trading volumes, as state and federal regulators clash over their treatment.
Nevada regulators accused Coinbase of offering alleged unlicensed sports betting through the exchange's prediction markets.
Crypto.com is splitting out prediction markets into a standalone app, as competition among exchanges to offer event-based trading swells.
Cboe explores reviving all-or-nothing options as prediction markets hit record volumes and draw billions in retail trading activity.
Kalshi, a federally-approved entity, has been battling state-level enforcement actions over its sports event contracts.
Critics questioned Space's $20 million raise against its $2.5 million target, prompting a debate over transparency in crypto fundraises.
Fee generation is accelerating alongside volumes, with weekly revs hitting a record as short-dated markets capture growing share of activity.
Portugal has joined a growing list of countries seeking to block Polymarket amid a rise in election-related wagers.
Football.Fun has launched its FUN token in a Thursday TGE, with trading supported across Base, Solana, and several crypto exchanges.
Kalshi has secured temporary relief in its battle with Tennessee regulators over sports event contracts on the prediction market platform.
Tennessee's Sports Wagering Council sent cease-and-desist letters to Kalshi, Polymarket, and Crypto.com threatening potential criminal prosecution.
Andreessen Horowitz’s crypto arm said prediction markets, verifiable computing and “staked media” will push crypto beyond blockchains in 2026.
Mansour distanced Kalshi from 'offshore, unregulated' prediction market platforms with alleged cases of insider trading.
While most Polymarket categories remain fee-free, the platform has enabled fees on its 15-minute crypto markets to fund maker rebates.
Experts say credibility and transparency in market outcomes will ultimately determine the winners in the prediction market race.
Polymarket and Kalshi achieved multi-billion dollar valuations as investors bet the companies will scale exponentially.
The company has recently become more active in prediction markets space including a partnership with Kalshi.
DraftKings can offer event contracts in states that still prohibit online sports betting, expanding reach without changing state gaming laws.
JPMorgan highlighted rising engagement and monetization potential across both transaction and subscription products.
Following the success of Kalshi and Polymarket, major firms such as Coinbase and Gemini have moved to enter the prediction markets space.
Market share data shows the pair now dominates sector-wide flows, forming a fast-consolidating duopoly amid growing capital formation.
Prediction markets have quickly become one of the hottest private market themes in crypto and fintech, echoing earlier cycles.