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Congress is examining whether sports event contracts offered by prediction markets such as Kalshi and Polymarket should remain under CFTC oversight or be regulated more like traditional sports betting.
A Washington state judge has granted a preliminary injunction blocking Kalshi from offering event contracts there, finding the state likely to succeed on its claim that the platform violates Washington gambling law.
Prediction market operators accounted for about 27% of all wagers placed on the 2026 World Cup, according to a Bloomberg report cited by WSN.
A federal appeals panel showed skepticism toward Kalshi’s argument that its sports event contracts can operate on tribal land without triggering federal Indian gaming law, in a case brought by three California tribes.
FanDuel Predicts lets everyday users trade yes-or-no contracts on everything from the S&P 500 to sports outcomes. However, regulators are still working out where the product fits.
Cboe has rolled out Cboe Predicts, a new prediction markets suite built around regulated securities options, with its first XSP binary contracts now live on Interactive Brokers.
