New York wants Kalshi treated like an unlicensed sportsbook, while the prediction-market operator insists its federal status puts it beyond state gambling control. New York Calls It Gambling, Full Stop New York Governor Kathy Hochul and Attorney General Letitia James have sued KalshiEX, accusing the company of operating an illegal gambling platform without approval from […]
Kalshi
IG Group Bets $1.3bn on Underdog and the Prediction Market Boom
The proposed takeover would push IG Group deeper into US sports and event contracts while leaving Underdog’s brand and app operating on their own. Cash, Shares and a Very Large Incentive Pot IG Group has agreed to acquire daily fantasy sports and prediction market operator Underdog in a deal worth up to roughly $1.3bn. The […]
Nevada Lawmakers Target Sports Prediction Markets With Federal Ban
A bipartisan House bill would block federally regulated exchanges from offering sports prediction markets and casino-style contracts while returning control to state and tribal gaming authorities. Nevada Duo Takes Aim at Prediction Platforms Nevada Representatives Steven Horsford and Mark Amodei have introduced legislation designed to ban sports betting and casino-style products on federally regulated prediction […]
“Sounds Like a Bet”: Federal Judges Push Back on Kalshi’s Claim to Tribal Land
A trio of appellate judges spent Friday’s hearing sounding distinctly unconvinced by one of the prediction market industry’s central legal arguments — that betting on a football game somehow stops being a bet once it’s wrapped in the language of financial derivatives. The showdown, playing out at the Ninth Circuit in San Francisco, pits three […]
World Cup Prediction Markets Blow Past $2B, And Sportsbooks Should Be Sweating
The 2026 FIFA World Cup has turned prediction markets into a massive live-money test, with Spain and France leading the early title race. Why $2 Billion Is Not What It Sounds Like More than $2 billion has already moved through World Cup prediction markets on Polymarket and Kalshi, but that does not mean $2 billion […]
Nevada Blocks Polymarket as Prediction Market Fight Gets Messier
Nevada has won a preliminary injunction against Polymarket, adding another court win to its campaign against prediction markets that look a lot like betting in a nicer suit. Judge Sides With Nevada Regulators The Nevada Gaming Control Board (NGCB) said Judge Jason Woodbury of the First Judicial District Court granted its motion for a preliminary […]
