Latest Articles
CFTC gives prediction markets 30 days to lift geofencing despite court orders
Registered prediction markets must remove domestic geofencing within 30 days or explain why they cannot, the CFTC said on Nov. 5. Courts in Nevada, Michigan, Washington and now California tribal lands have ordered the opposite.
Kalshi court ruling on prediction markets: Arkansas sues as Ninth Circuit denies rehearing
Arkansas sued Kalshi and VGW on November 4 over alleged illegal gambling, and the same day the Ninth Circuit refused to rehear Nevada's case against the prediction markets operator.
DraftKings, FanDuel and PrizePicks pull Utah prediction markets after Kalshi charges
DraftKings, FanDuel and PrizePicks have pulled sports and political contracts from Utah after the state charged Kalshi with 13 felonies. Fanatics stops trade placement there on Nov. 4, and Kalshi closed a $1bn round at a $40bn valuation the same week.
Polymarket hack drains estimated $2.7M from more than 700 accounts, trading halted an hour
Blockchain firm Bitquery estimates that a tampered third-party script drained about $2.73 million from 737 accounts on Polymarket's international exchange on Oct. 29. The platform says it will make affected traders whole, but has not confirmed the number of victims or the amount taken.
NBA player prop bets ban covers DraftKings and FanDuel, but not prediction markets
The NBA has told DraftKings and FanDuel to stop offering same-player under parlays and several prop markets ahead of Tuesday's season opener. Prediction markets sit outside the sportsbook agreements the league relies on.
Underdog files Tennessee prediction markets lawsuit against AG and wagering council
Underdog sued Tennessee in federal court on October 13, arguing that federal oversight of its event contracts overrides state betting law. A Sixth Circuit ruling from September stands in the way.
CFTC swap rule keeps sportsbook bets out of federal derivatives oversight
The CFTC has codified an interim rule stating that casino-style gambling products, including sportsbook wagers, are not swaps. A separate proposal would define event contracts, including sports and political markets, as swaps.
Brazil betting ban: Central Bank blocks betting transactions
Brazil's Central Bank has ordered payment institutions to stop processing Pix and bank slip transfers to betting operators, one of the enforcement steps under Provisional Measure 1,394. Broadcasters have asked the Supreme Court to suspend the ban.
CFTC Sends Prediction Market Event Contract Rules to White House for Review
The CFTC has submitted two draft rules on event contracts to the White House for review, one to include event contracts in the swap definition and one to exclude casino-style gambling products. The filings land amid a circuit split and a Justice Department push to treat binary contracts as swaps.