US Senator Ted Cruz is seeking state control of Prediction Markets through new legislation that would give state and tribal governments jurisdiction over sports-related contracts offered by trading platforms. The Texas senator plans to introduce the measure after the November 3 midterm elections. Under the proposal, prediction market operators would be prohibited from offering contracts linked to sports wagering without explicit approval from local or tribal authorities. The proposed transition toward state regulation could significantly alter how platforms like Kalshi operate under Commodity Futures Trading Commission regulation. Currently, these exchanges offer sports event contracts across the nation under federal oversight….

A new civil lawsuit has been filed, as Utah sues Kalshi alleging unlawful gambling operations across the state. Attorney General Derek Brown announced the legal action in Utah Third District Court targeting the prediction market operator along with its affiliates and two Susquehanna trading firms. The complaint seeks financial restitution ranging from $30.6 million to $61.2 million based on alleged violations of statutes governing wagering and gaming activities. State officials maintain that the suit was filed because the platform illegally offered sports, elections, politics, and culture event contracts to state residents. According to the filing, the company generated millions in…

Prediction Markets face intense legal scrutiny as the National Football League recently filed a 32-page amicus brief with the Supreme Court urging review to protect competitive integrity across professional sports. The legal document questions the regulatory capacity of federal oversight bodies regarding sports event contracts and highlights ongoing concerns about insider trading and game manipulation. Industry participants continue discussing compliance frameworks as litigation expands across multiple jurisdictions. Conferences in New York emphasized the need for strict enforcement against unauthorized disclosures of sensitive information. Meanwhile state legal disputes intensify as tribal entities challenge gaming operators over digital platforms offering event derivatives….

The recent Kalshi deal with tribal gaming operator partnerships has expanded to include four additional Native American tribes, highlighting a growing split across Indian country regarding prediction markets. The Kletsel Dehe Wintun Nation, Greenville Rancheria, and Alturas Indian Rancheria in California, alongside the Alabama-Quassarte Tribal Town of Oklahoma, have formally joined forces with the platform. They follow a similar agreement reached with the Louisiana-based Tunica-Biloxi Tribe last month. Under the agreed terms, each participating sovereign tribe retains full ownership of its custom branded mobile application and oversees the primary customer relationship. Kalshi serves as the technical backend operator, managing execution,…

Prediction market platform Kalshi has threatened legal action against Netflix following the release of a trailer for an upcoming documentary covering the financial prediction industry. Attorneys representing the prediction markets company sent a formal cease and desist letter to the streaming service demanding the immediate removal of the promotional video for Instadocs: The Prediction Market Games alongside a public retraction. The legal dispute centers on a specific scene in the documentary trailer filmed during a watch party in Las Vegas, Nevada. In the clip, an attendee displays a mobile screen showing a $5,000 wager placed on Spain to win the…

A call for a prediction markets crackdown has intensified as sports leagues, casino operators, and lawmakers push back against federal regulatory proposals. The NFL and the Casino Association of New Jersey submitted comments urging the U.S. Commodity Futures Trading Commission to block financial platforms from offering sports event contracts. Traditional gaming companies argue that federally regulated derivatives platforms such as Kalshi and Polymarket bypass state gambling laws, threatening established state and tribal regulatory authority across the country. The American Gaming Association estimates that state governments have lost more than $1 billion in tax revenues due to the expansion of federally…

Concerns over prediction markets are mounting among gaming associations and tribal leaders who are calling on federal lawmakers to impose strict regulations. The American Gaming Association and the Inter-Tribal Council of the Five Civilized Tribes have urged Congress and the Commodity Futures Trading Commission to curb platforms that offer sports betting contracts nationwide. Industry leaders argue these platforms operate outside established state and tribal legal frameworks, threatening tribal sovereignty and draining state tax revenues across the country. Testifying before a Senate Agriculture subcommittee, Christopher Cylke of the American Gaming Association stated that platforms such as Kalshi and Polymarket use federal…

The landscape of World Cup betting shifted dramatically during the 2026 tournament as prediction markets captured 27% of all legal sports gambling volume in the United States. Driven by platforms such as Kalshi and Polymarket, event-based trading exchanges saw unprecedented growth, challenging traditional sportsbooks that previously dominated the sector. According to figures from H2 Gambling Capital, prediction markets expanded their share of soccer gambling activity from roughly 9% at the start of the year to 27% of total volume by the conclusion of the final match between Spain and Argentina. The overall rise in World Cup betting was anchored by…