Congress outlined how the CEA overrides state gaming laws in Maryland, but Kalshi was left out.
The state of Maryland contended in its most recent judicial brief against the prediction market that Congress specifically outlined the circumstances in which the federal Commodity Exchange Act (CEA) supersedes state law and eliminated any category that would apply to Kalshi. Late on Monday night, Maryland filed a response brief in its U.S. complaint in […]
Coinbase and Kalshi Will Collaborate on Prediction Markets
Coinbase Global (NASDAQ: COIN) is likely to collaborate with Kalshi when it opens its prediction markets platform, which might happen soon. What looks to be a slide from an unreleased Coinbase investor presentation was received by Jane Wong, a Silicon Valley blogger and consultant who revealed that Coinbase is developing an event contracts platform. A […]
Kalshi and Crypto.com Create a Prediction Markets Coalition
The Coalition for Prediction Markets (CPM) was established by Crypto.com and Kalshi on Thursday with the goal of promoting “safe, transparent, and federally supervised access to prediction markets.” Nearly half of Americans under 45 have used online prediction markets, according to the alliance, which also includes Coinbase Global (NASDAQ: COIN), Robinhood Markets (NASDAQ: HOOD), and […]
Kalshi takes the Connecticut regulator to court over a cease and desist letter.
Add Connecticut to the increasing list of states involved in a legal battle with Kalshi. The Connecticut Department of Consumer Protection’s (DCP) Gaming Division, which regulates gaming in the state, issued cease and desist letters to Robinhood, Kalshi, and Crypto.com on December 2, informing all three that the government group believes the sports-related event contracts […]
A significant judicial victory for Kalshi prediction markets is overturned by a federal judge in Nevada.
A Nevada ruling exacerbates the nation’s courts’ increasing disagreement over whether prediction markets are bets or financial products. A crucial court victory for prediction markets operator Kalshi was reversed by a federal judge in Nevada, who dissolved a preliminary injunction that had prevented state regulators from classifying its contracts for sporting events as unlawful gambling. […]
Kalshi can continue operating on California tribal land as the court rejects an injunction to block its contracts.
Despite admitting that the prediction market “may have found a way around prohibitions on interstate gambling,” a federal judge dismissed an injunction to three California tribes, allowing Kalshi to continue providing its contracts in Indian Country. Blue Lake Rancheria, the Chicken Ranch Rancheria of Me-Wuk Indians, and the Picayune Rancheria of the Chukchansi Indians requested […]
