Kalshi Opens Washington D.C. Office, Hires Lobbying Leads as Regulatory Battles Intensify
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Kalshi secures Tennessee court order limiting state enforcement of sports contracts
A federal judge in Tennessee temporarily barred state officials from enforcing the state’s sports-wagering rules against Kalshi while litigation continues, finding Kalshi is likely to show its sports-linked contracts fall under federal commodities law. The decision arrives as Kalshi scales its policy effort in Washington and reports heavy platform activity, underscoring a broader national fight between state regulators and the CFTC over event‑based markets.
Jump Trading to take equity stakes in Kalshi and Polymarket while supplying liquidity
Bloomberg reports Jump Trading is negotiating equity arrangements with Kalshi and Polymarket in return for supplying continuous two-sided liquidity. The potential deal comes as Kalshi pursues an aggressive regulatory and growth push — opening a Washington, D.C. outpost, hiring senior policy operatives and reporting blockbuster monthly volumes — which both increases the strategic value of an equity-for-liquidity tie-up and compounds legal and governance risks.
SEC chair signals prediction markets are a regulatory flashpoint
SEC Chair Paul Atkins told senators prediction markets present a pressing jurisdictional challenge and that the SEC is coordinating with the CFTC to address overlapping authority. The CFTC has moved to reframe oversight, withdrawing a prior rulemaking notice while state actions — most notably a temporary Nevada injunction against Polymarket — underscore immediate operational risks for U.S. platforms.
Senators urge CFTC to avoid intervening in prediction-market lawsuits
A bipartisan group of 23 senators asked the Commodity Futures Trading Commission to refrain from intervening in state and tribal litigation over prediction‑market contracts and urged the agency to bar categories of wagers such as sports and violent‑activity outcomes. The appeal comes as the CFTC, under Chair Mike Selig, has withdrawn prior guidance and signaled a statutes‑based rulemaking while state courts — including a recent temporary Nevada order and a Massachusetts pause on sports markets — press conflicting enforcement outcomes.
NYSE warns prediction platforms are shaping market moves
NYSE leadership says real-time, blockchain-based forecasting is increasingly treated as a usable probability signal by traders and institutions; major market operators and liquidity providers are taking stakes in platforms even as federal and state authorities clash over oversight and enforcement.
Crypto.com spins off prediction markets into OG platform as U.S. launch follows rapid growth
Crypto.com has separated its prediction-market operations into a new standalone platform, OG, backed by a CFTC-registered affiliate and initially available only in the United States. The move responds to sharply accelerating user activity and puts OG into direct competition with established U.S. players as institutional and retail volumes in the sector expand rapidly.
Crypto Lobbying Escalates as Fairshake Amasses $193M; Major Firms Fuel Midterm Offensive
A crypto-aligned super PAC has reported $193 million in available funds after fresh multi-million-dollar donations from Ripple and a16z, joining earlier large contributions. That war chest positions the industry to be a top spender this midterm cycle and raises the stakes for pending legislative decisions in Washington.
Federal Reserve researchers endorse Kalshi-style prediction markets
A Federal Reserve research paper finds exchange-traded, retail-participation markets offer timely, distributional signals that outperform some traditional forecasting tools for key macro variables. The study highlights Kalshi's ability to generate continuous probability distributions and notes its strong alignment with policy rates around Fed meetings.