Overview
- Kalshi asked a federal judge in Arizona to halt a state criminal case against its event contracts, while a coalition of tribes filed briefs arguing the platform undercuts tribal–state gaming compacts and siphons revenue from tribal governments.
- Ohio urged the Sixth Circuit to reject Kalshi’s bid to keep operating during its appeal, saying sports wagers are not financial swaps under federal law and that Congress never ceded state gambling authority to the CFTC.
- Nevada regulators secured a temporary order blocking Kalshi and are seeking an injunction in state court after the Ninth Circuit directed the dispute out of federal court, a move that could cut off access for in‑state traders.
- A string of well‑timed bets tied to military actions and other sensitive events prompted the CFTC’s enforcement chief to warn that insider‑trading laws apply to prediction markets and spurred reported DOJ interest in Venezuela‑related trades, pushing Kalshi and Polymarket to roll out new trading bans and monitoring rules.
- Lawmakers introduced bipartisan bills to bar certain event contracts and restrict officials’ trading, California’s governor ordered state appointees not to use nonpublic information in these markets, and California’s attorney general said the state rejects federal preemption and may bring its own case.