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States Can Regulate Prediction Markets as Gambling, Court Rules
1+ week, 6+ day ago (554+ words) Sports-related event contracts are not “swaps,” according to a federal appeals court. The Supreme Court, however, will likely have the final say whether states can regulate prediction markets. On August 28, the Ninth Circuit Court of Appeals rejected Kalshi’s request for…...
Baltimore Sues Kalshi & Polymarket Over Unlicensed Sports Betting
3+ week, 6+ day ago (410+ words) Kalshi and Polymarket’s legal battles are piling up in several states. Now, the city of Baltimore is taking action against the prediction market operators. On August 13, Baltimore Mayor Brandon Scott filed a lawsuit against Kalshi and Polymarket, accusing the prediction…...