Former CFTC chairman James Christopher Giancarlo, now an adviser to companies including Polymarket, told Bloomberg TV that prediction markets benefit society because they satisfy a basic human desire for certainty. Pressed by anchor Tim Stenovec on concerns about the 'gamification' of betting on everything from weather to elections, Giancarlo said such markets aggregate the 'wisdom of the crowd' more effectively than traditional polling.
futurism.com
· 2026-11-01
Utah's Attorney General Derek Brown filed 14 criminal charges against Kalshi co-founders Tarek Mansour and Luana Lopes Lara, alleging the company promoted illegal gambling disguised as prediction markets. The Commodity Futures Trading Commission responded by suing Utah, asserting it holds exclusive federal jurisdiction over CFTC-registered prediction markets like Kalshi.
yro.slashdot.org
· 2026-10-29
The US Commodity Futures Trading Commission has sued Utah to block the state from enforcing its gambling ban against Kalshi, marking the tenth state the agency has sued on the platform's behalf. The move follows Utah's own lawsuit seeking to bar Kalshi from offering bets on sports, elections and politics, after Utah previously won a related federal case against Kalshi.
arstechnica.com
· 2026-10-28
Webull announced on October 20 that it will offer Bitcoin perpetual futures to its roughly 6 million US clients starting in November. The product, pioneered by crypto exchanges, lets traders hold leveraged long or short positions with no expiration date, using a funding-rate mechanism to keep contract prices aligned with spot Bitcoin. Webull did not disclose specific funding rates, margin requirements, or contract specifications in its announcement.
techreport.com
· 2026-10-22
Former Senator Blanche Lincoln, who helped write Dodd-Frank provisions letting regulators ban sports-event betting on prediction markets, has been lobbying Congress and the CFTC since 2024 on behalf of Kalshi to allow such wagers. The 2010 law left the decision to the executive branch; the Biden administration restricted sports-based contracts, while the Trump administration has moved to permit them and is contesting state efforts to regulate prediction markets.
futurism.com
· 2026-10-10
The NFL filed a brief supporting New Jersey's request for the Supreme Court to clarify whether states or the CFTC regulate prediction markets like Kalshi and Polymarket. The league said $1.8 billion of the $3.3 billion traded on such platforms on the first Sunday of this season involved NFL games, and argued states are better equipped to oversee these markets as gambling-like products. Kalshi disputed the claim, saying the CFTC is actively regulating sports-related contracts through ongoing rulemaking.
fastcompany.com
· 2026-10-09
Blanche Lincoln, who once helped craft legislation to restrict sports betting on prediction markets, is now lobbying the CFTC to permit such betting on Kalshi’s platform. Since 2024, she has received $480,000 from Kalshi for her efforts to ease regulation of event contracts, reversing her previous stance against unregulated gambling activities.
arstechnica.com
· 2026-10-08
New York filed a lawsuit against Polymarket in state court, alleging the platform runs unlicensed gambling and asking a judge to block it from operating in the state. The state is seeking fines and restitution for users, arguing Polymarket never obtained a required gaming license. Polymarket's chief legal officer said the company will fight the claims and remain in New York.
fastcompany.com
· 2026-09-25
New York's attorney general and governor announced a lawsuit against Polymarket, accusing it of running an unlicensed gambling operation disguised as a prediction market. The state claims Polymarket allows users as young as 18 to bet, violating New York's rule requiring bettors to be at least 21, and is avoiding taxes that licensed gambling operators must pay. The state is asking a court to shut down Polymarket's operations within New York.
arstechnica.com
· 2026-09-24
New York Attorney General Letitia James and Governor Kathy Hochul filed a lawsuit against Polymarket's domestic arm, alleging it operates as an unlicensed gambling business and permits underage betting. The suit follows similar actions James has brought against Kalshi, Coinbase Financial Markets and Gemini Titan.
engadget.com
· 2026-09-24
After the Clarity Act failed to advance in the Senate, the SEC issued an order creating a temporary pathway for trading tokenized stocks, and the CFTC submitted a crypto rulemaking proposal to the White House for review the same day. Details of the CFTC proposal have not been made public, though the Office of Management and Budget confirmed it is pending review.
cnbc.com
· 2026-09-22
Documents obtained by WIRED via a Freedom of Information Act request reveal that CFTC chairman Michael Selig authorized at least three previously unreported investigations into trading on Polymarket. One order, signed in early May, targeted possible insider trading tied to Biden-era pardon markets, following an NPR report on a trader who made over $300,000 betting correctly on pardons for figures like Liz Cheney and Adam Schiff. A second order in late May authorized scrutiny of Iran-related event contracts, coming shortly after a 60 Minutes segment exposed accounts that earned $2.4 million with a suspicious 98 percent win rate.
wired.com
· 2026-09-11
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