Kalshi argued Tuesday that its VIP program and platform are “fundamentally different” from those offered by sportsbooks, after several Democratic lawmakers expressed concerns over loyalty programs at both prediction markets and sportsbooks. In a letter shared first with The Hill, the company suggested Kalshi Platinum has no “predatory incentives” because of its distinct business model.…

Kalshi argued Tuesday that its VIP program and platform are “fundamentally different” from those offered by sportsbooks, after several Democratic lawmakers expressed concerns over loyalty programs at both prediction markets and sportsbooks. In a letter shared first with The Hill, the company suggested Kalshi Platinum has no “predatory incentives” because of its distinct business model.…

The Commodity Futures Trading Commission (CFTC) announced on Tuesday that it has filed a lawsuit against the state of Utah to stop the state’s efforts to shut down CFTC-registered contract markets. The lawsuit follows a lengthy battle the state has been fighting against prediction markets. In August, a federal judge in Utah ruled that the…

Prediction market platform Kalshi is expanding protections for young traders aged 18-20, which includes a new default monthly deposit limit.   Accounts in the age range will default to a $2,500 monthly deposit limit, Kalshi announced in a press release Tuesday. They will be automatically placed into “special accounts” that will have extra protections and…

While platforms like Polymarket and Kalshi are meant 'to aggregate the wisdom of the crowd,' professor warns that a few 'relatively large players' are 'putting up very large sums'

The NBA announced Monday it is partnering with prediction markets Kalshi and Polymarket, as multiple states have sued those companies in an attempt to establish their regulatory authority over them. The league said in a release it entered into a memorandum of understanding with the Commodity Futures Trading Commission (CFTC) to designate Kalshi and Polymarket…

Defense Secretary Pete Hegseth barred all Pentagon staff from using undisclosed information to place wagers on forthcoming U.S. military action using betting platforms and prediction markets like Kalshi and Polymarket.  “Make no mistake why this matters. Our enemies watch movements in these markets,” Hegseth said in a memo, first obtained by CBS News. “When an American…