Nevada has sued Kalshi, a prediction market company, for operating a sports gambling market without the necessary licenses in the state. The lawsuit alleges that Kalshi also provides services to individuals under the legal gambling age of 21, violating state law. The lawsuit follows a federal appeals court's rejection of Kalshi's request to prevent Nevada from taking legal action. The Trump administration has claimed that only the federal government has the right to enforce the prediction market industry. Prediction markets, which allow users to bet on events like sports, politics, and wars, have seen a surge in popularity. However, their growth has come at the expense of regulated gambling in Nevada. The state's gambling regulators say Kalshi has "continued to dramatically expand its business" rather than maintaining the status quo. Kalshi and its rival Polymarket argue that their businesses should be regulated as financial investments rather than gambling. The Chair of the Commodity Futures Trading Commission (CFTC) has filed an amicus brief, claiming the CFTC has exclusive jurisdiction over these markets. The prediction market industry has also faced concerns about potential insider trading, with a small number of accounts capturing a significant portion of the profits on these platforms.
Feb 18, 2026 → Mar 9, 2026
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Read original at The Verge →6 updates from 5 sources over 3 weeks.
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Read original at The Verge →Kalshi CEO Tarek Mansour apparently thinks Polymarket head Shayne Coplan sucks. Coplan seemingly feels the same about Mansour. Good news, fellas: You’re both right! A new report from NPR highlights tension between the…
Read original at Gizmodo →Mick Mulvaney, a former top official in the Trump administration, is spearheading a new coalition that aims to challenge the legality of prediction markets. Prediction markets are platforms where users can bet on the…
Read original at Wired →A new advocacy group has been formed by conservative critics of online prediction markets, who are intensifying their efforts to counter the Trump administration's push to keep these platforms free from state gambling…
Read original at Bloomberg →The article discusses the tension between the Commodity Futures Trading Commission (CFTC) and the state of Utah regarding the regulation of prediction markets. Utah Governor Spencer Cox has pushed back against the…
Read original at Gizmodo →Nevada has sued Kalshi, a prediction market company, for operating a sports gambling market without the necessary licenses in the state. The lawsuit alleges that Kalshi also provides services to individuals under the…
Read original at Engadget →What this story stands on. Tier 0 is a primary record or the subject's own words; higher tiers must be attributed, never stated as bare fact.
Posts from this topic will be added to your daily email digest and your homepage feed. Posts from this topic will be added to your daily email digest and your homepage feed. Posts from this topic will be added to your daily email digest…
View source →Kalshi CEO Tarek Mansour apparently thinks Polymarket head Shayne Coplan sucks. Coplan seemingly feels the same about Mansour. Good news, fellas: You’re both right! A new report from NPR highlights tension between the heads of the two…
View source →Mick Mulvaney, a former top official in the Trump administration, is spearheading a new coalition that aims to challenge the legality of prediction markets. Prediction markets are platforms where users can bet on the outcomes of future…
View source →A new advocacy group has been formed by conservative critics of online prediction markets, who are intensifying their efforts to counter the Trump administration's push to keep these platforms free from state gambling regulations. This…
View source →The article discusses the tension between the Commodity Futures Trading Commission (CFTC) and the state of Utah regarding the regulation of prediction markets. Utah Governor Spencer Cox has pushed back against the CFTC's efforts to assert…
View source →Nevada has sued Kalshi, a prediction market company, for operating a sports gambling market without the necessary licenses in the state. The lawsuit alleges that Kalshi also provides services to individuals under the legal gambling age of…
View source →Tier key: T0 = Primary source · T1 = Wire · T2 = Outlet report · T3 = Commentary
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