Key Takeaways ▸ Kentucky grew to become the primary state to explicitly tax prediction market platforms (14.25% on transaction charges), with Iowa (20%) and Illinois (50%) proposing related measures, all centered on income seize reasonably than prohibition. ▸ The federal company that oversees buying and selling markets (the CFTC) sued three states, arguing that prediction…
The Commodity Futures Trading Commission is sending a transparent, two‑observe message about prediction markets this week: They are right here to remain, they’re helpful, and they are going to be policed like all critical derivatives market. This week, CFTC Enforcement Director David Miller used remarks on the NYU Law School to warn that the company will deal…
More than 40 members of Congress on Monday urged federal regulators to handle potential insider buying and selling in prediction markets, warning that the platforms may enable authorities officers to revenue from nonpublic data. The letter, signed by 42 representatives and despatched to the Commodity Futures Trading Commission (CFTC) and the Office of Government Ethics,…
Texas Lt. Gov. Dan Patrick has formally directed the Senate State Affairs Committee to research prediction markets and ship coverage suggestions forward of the state’s 2027 legislative session, placing operators on discover in the second-most populated state in the nation. Patrick, who additionally serves as president of the Texas Senate, shared his priorities for the…
On the identical morning that greater than 40 Democratic lawmakers pressed the Trump administration to situation steerage barring federal staff from utilizing insider info to commerce on prediction markets, Kalshi plastered Washington, D.C. with inexperienced billboards. The messages goal quite a few misconceptions rising in politically-motivated rhetoric directed at prediction markets. Namely, Kalshi is emphasizing…
The National Football League is pushing prediction market platforms to keep away from providing sure contracts that the league believes are weak to manipulation. According to a report from ESPN, the NFL despatched letters to operators together with Kalshi and Polymarket requesting that they not provide markets tied to outcomes that may be influenced by…
A member of Congress has moved to limit prediction market exercise inside his personal workplace, marking a first-of-its-kind step as lawmakers more and more scrutinize the position of insider info in occasion contract buying and selling. Rep. Seth Moulton (D-Mass.) introduced Wednesday that his workplace will prohibit workers from collaborating in prediction markets, together with…
Reports have come out that Coinbase has as soon as once more rejected assist for the newest draft of the Clarity Act, underscoring rising trade resistance to proposed restrictions on stablecoin yield. According to a scoop acquired by Punchbowl News, the cryptocurrency change raised considerations with Senate officers over updates to stablecoin yield provisions, marking…
Prediction markets tied to a possible Iran ceasefire are drawing renewed scrutiny after merchants positioned for de-escalation forward of a market-moving shift in U.S. coverage, elevating contemporary questions on whether or not insider buying and selling could also be enjoying a job. The exercise has targeted consideration on Polymarket’s worldwide platform, the place markets tied…
A brand new bipartisan Senate invoice would prohibit sports activities occasion contracts on prediction market platforms, marking the primary bipartisan congressional effort to deal with the sector’s enlargement into areas historically related to sports activities betting. The laws, backed by Sen. Adam Schiff (D-Calif.) and Sen. John Curtis (R-Utah), would prohibit sports activities occasion contracts…