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Prediction Markets
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CFTC Addresses Market Maker Ownership, Underdog Acquired, WNBA Slips Up in This Week’s Bingos & Busts
The CFTC is taking steps to address prediction markets’ cross-ownership of market makers, Underdog has agreed to be bought by a British trading firm, and the WNBA puts heat on itself by posting a video of two players gambling on their own game. In what some in the industry are calling the biggest headline from […] The…
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Prediction Markets Weekly Roundup: Courts Split, New York Sues Kalshi, IG Buys Underdog
Conflicting court rulings and a major acquisition underscored both the legal uncertainty and commercial momentum surrounding prediction markets. Prediction markets saw another eventful week as courts issued conflicting rulings on federal preemption, New York launched a lawsuit against Kalshi, and IG Group agreed to ac…
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Hot Copy: Wetherspoons claps back
Pub fruit machine economics, an Iran-linked illegal gambling network and prediction markets in the UK all hit headlines this week The post Hot Copy: Wetherspoons claps back appeared first on NEXT.io.
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IG Group to acquire Underdog in $1.3bn prediction markets deal
IG Group has agreed to acquire Underdog for total consideration of up to approximately $1.3bn, marking the largest strategic move in the company’s expansion into US prediction markets. The transaction comprises an upfront enterprise value of approximately $1.1bn, to be funded through a combination of cash and newly is…
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Prediction Markets Provide Coinbase Warmth as Crypto Winter Continues to Bite
The US crypto exchange giant Coinbase’s second-quarter report made for predictably grim reading as Bitcoin prices continue to stagnate. But while crypto remains down in the dumps, the firm’s prediction markets are witnessing meteoric growth. The firm said its prediction market revenues more than doubled in Q2, rising …
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New York Sues Kalshi as Battle Over Prediction Markets Escalates
New York has intensified its campaign against prediction markets, taking legal action against Kalshi and arguing that the federally regulated platform is operating an illegal gambling business inside the state. The lawsuit, filed by Attorney General Letitia James in a Manhattan state court, accuses Kalshi of offering …
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Waterhouse VC July update: How prediction markets impact betting economics
This month's Waterhouse VC newsletter takes a closer look at the impact prediction markets are having on the economics of sports betting. The post Waterhouse VC July update: How prediction markets impact betting economics appeared first on NEXT.io.
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IG Group makes billion dollar punt on Underdog in move into prediction markets
IG Group's Corcoran and Underdog's Levine have history, dating back to Paddy Power Betfair acquiring Levine's DFS app in 2017.
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IG Group agrees $1.1bn Underdog acquisition to enter US prediction markets
FTSE 100 firm IG Group has agreed to acquire US sports company Underdog in a move which could hold big implications for a variety of sectors. The deal will converge retail trading, prediction markets and sports gaming, putting the UK-listed broker in a position to capitalise on some of the world’s current fastest-grow…
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CFTC’s bid to block Wisconsin prediction markets ban denied
On July 29, 2026, a federal judge denied the Commodity Futures Trading Commission’s (CFTC) request for a preliminary injunction to block Wisconsin from implementing state gambling laws and banning prediction markets. U.S. District Judge William Griesbach made the ruling, explaining that the commission failed to show h…
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Crypto Giant Binance.US Seeks Event Contracts Expansion
Binance.US, the “licensed and regulated cryptocurrency exchange built for Americans”, is getting ready to jump on the bandwagon and join the fastest-growing segments of financial services in the United States: prediction markets. They Could Seek Approval According to reports, during the Rare Evo Blockchain AI Conferen…
Read summary →N1 Sport Promo wrap-up: Results & insights
Together with the FIFA World Cup, N1 Sport Promo, a six-week campaign for partners working with sports and Prediction Markets traffic, has come to an end. Throughout the promotion, participants received increased payouts based on the volume of acquired FTDs. After reviewing the campaign results, the N1 Partners team i…
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Prediction Markets Lose Big in New York & Wisconsin Rulings
Prediction markets suffered legal setbacks in two rulings this week as judges in Wisconsin and New York sided against the CFTC and Kalshi. In New York, the Second Circuit denied Kalshi’s emergency motion for an injunction to prevent state authorities from enforcing gambling laws against the company. It has now referre…
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Atlantic City casinos urge CFTC to block sports prediction markets
In comments submitted Monday
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DraftKings Predictions Sued By California Resident for Evading State Gambling Laws
DraftKings integrated Predictions into its main app last month, and the company is already facing a lawsuit alleging its new “super” app is offering illegal gambling. The lawsuit, filed in Massachusetts on behalf of a California resident, claims that its sports prediction markets “are sports bets masquerading as event…
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July 2026: the month prediction markets came of age, according to Slotegrator
Maksym Shtun, Product Owner at Slotegrator, examines how prediction markets matured in July 2026 behind $50bn in World Cup trading volume and Gibraltar’s new regulatory framework. Opinion.- July 2026 saw prediction markets hit two big milestones. The World Cup brought record-breaking volumes, with over $50bn traded ac…
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South African Bookmakers Association calls for ban on prediction markets
Cites integrity concerns
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AGEM urges CFTC to withdraw prediction markets proposal
Warns of uneven competitive landscape
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Robinhood Says Rothera Is Top-3 US Prediction Market Exchange as Users Near 2 Million
Prediction markets are becoming a significant business for the brokerage, with users growing by roughly one-third since the first quarter. Robinhood’s prediction market business continues to grow rapidly, with nearly 2 million customers trading event contracts in the second quarter. Executives described the company’s …
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Wisconsin Court Denies CFTC Request to Shield Sports Contracts
A federal judge in Wisconsin has refused to grant the Commodity Futures Trading Commission a preliminary injunction, leaving the state free to press ahead with its crackdown on sports‑related prediction markets. The CFTC had asked the court to step in after Wisconsin authorities moved against several platforms operati…
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Dodd-Frank’s Two Authors Took Opposite Sides on the CFTC’s Prediction-Market Rules
The comment window on the Commodity Futures Trading Commission’s proposed amendments to Rule 40.11, the 267-page “Prediction Markets; Public Interest… The post Dodd-Frank’s Two Authors Took Opposite Sides on the CFTC’s Prediction-Market Rules appeared first on iGaming Express.
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Gaming groups, states protest federal proposal for prediction markets’ role in sports events
Federal oversight of prediction market “event contracts” tied to sporting events and potentially even slot machine spins would usurp long-established state and tribal authority over regulated wagering and put public trust at risk, three major gaming organizations argue. The American Gaming Association, Indian Gaming A…
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Fanatics Lead RG Criticizes Kalshi and Polymarket, Likens Them to Unlicensed Gambling
Prediction markets companies, such as Kalshi and Polymarket, have been criticized for a long time by various regulators, jurisdictions, and non-profit organizations alike. However, it seems that even other companies are after the prediction markets giants, as Anthony D’Angelo, head of responsible gaming at Fanatics Be…
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NFL urges CFTC to strengthen proposed rules on sports prediction markets
The NFL is calling for a series of restrictions and prohibitions for sports event contracts. US.- The National Football League has told the Commodity Futures Trading Commission that its proposed rules for event contracts fall short of protecting the integrity of sporting events and fans. It’s called for prohibitions o…
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BetMGM Q2 Results: Sports Betting Stagnant as Active Users Drop
BetMGM reported no growth in its sports betting segment in Q2 this year, as active monthly users dropped by 3%. The company said it expects a delay in reaching a targeted Adjusted EBITDA of $500 million, citing the impact of prediction markets on the business. In its Q2 business update, BetMGM noted that overall reven…
Read summary →NBA Joins Pile-On of CFTC’s June Rule-Making as Prediction Markets Remain in Spotlight
The National Basketball Association (NBA) has added its voice to a chorus of disapproval at the Commodity Futures Trading Commission’s latest prediction markets-related rule-making. The NBA wrote to the CFTC on Monday, echoing many of the sentiments spelled out in an earlier letter from the NFL, American football’s go…
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18 months into legalization but offshore still pockets $118M a month in Brazil
In a year and a half since the law took effect, Brazil cut offshore brands’ share of iGaming revenue from 35% to 21%. But even after licensing 167 brands and blocking more than 25,000 illegal domains, offshore still pulls in $118.3M a month. Factor in prediction markets, and the Brazil online gambling regulation offsh…
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Minnesota Could Still Enforce Sports Betting Laws on Kalshi & Polymarket, Says Gaming Lawyer
A judge in Minnesota blocked the state from enforcing new laws against prediction markets, but the ruling could still lead to enforcement action against sports event contracts. Initially, it appeared that Judge Katherine Menendez had favored Kalshi, Polymarket, and the CFTC’s argument that the Commodity Exchange Act (…
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BetMGM delays $500M EBITDA target as prediction markets weigh on sportsbook outlook
Q2 EBITDA falls 15%
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Judge Blocks Minnesota’s Bill Banning Prediction Markets
A federal judge in Minnesota issued a preliminary injunction blocking the state’s first-in-the-nation ban on prediction markets, finding that the law is likely preempted by federal authority over e... The post Judge Blocks Minnesota’s Bill Banning Prediction Markets appeared first on Legal Sports Report.
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Kalshi threatens legal action against Netflix documentary on prediction markets
Dispute over alleged false claims
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BetMGM Q2 2026 Earnings: Prediction Markets and Customer Win Rates Weigh on Results
BetMGM’s inability to compete against the prediction markets threat is impacting top-line growth, as net revenue grew by just 3% in Q2 2026 BetMGM, the 50/50 joint venture between MGM Resorts International and Entain, released its second-quarter 2026 business update on July 28, delivering revenue and earnings that cam…
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SABA Calls for South Africa to Ban Prediction Markets
South Africa’s betting industry is drawing a harder line against prediction markets, with the South African Bookmakers Association (SABA) calling for the products to be treated as illegal until lawmakers introduce a dedicated regulatory framework. The industry body announced Monday that it is moving to block the sprea…
Read summary →Dodd, NFL, 44 AGs, and Industry Weigh In on CFTC Prediction Market Rule
Government officials, sports organizations, tribal gaming groups and industry stakeholders offered sharply different suggestions for the future of prediction markets. The Commodity Futures Trading Commission’s (CFTC) proposed prediction market rule drew 1,443 comments, with lawmakers, state attorneys general and triba…
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Fanatics’ head of RG likens Kalshi, Polymarket to black market operators
Anthony D’Angelo, head of RG at Fanatics Betting and Gaming, called out prediction markets during a panel on sports betting addiction. The post Fanatics’ head of RG likens Kalshi, Polymarket to black market operators appeared first on NEXT.io.
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44 States Challenge CFTC’s Authority Over Sports Prediction Markets
A coalition of 44 state attorneys general has formally opposed the Commodity Futures Trading Commission’s proposed rule on prediction markets, arguing that the agency is stepping far beyond its legal authority. In a joint comment letter, the states said the CFTC’s plan to regulate sports prediction markets would “dras…
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Fanatics to Acquire Exchange and Clearinghouse from BGC; Parties to Partner on Prediction Markets
Fanatics, a global sports platform, and BGC Group Inc, a leading global brokerage and financial technology company… The post Fanatics to Acquire Exchange and Clearinghouse from BGC; Parties to Partner on Prediction Markets appeared first on Americas iGaming & Sports Betting News.
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Federal judge reverses Minnesota’s prediction markets ban
On July 27, 2026, a federal judge cancelled Minnesota’s SF 3432 from coming into force, which was set to criminalize prediction markets in the state as a first-of-its-kind law in the United States. The ruling was made by U.S. District Judge Katherine Menendez, who stated that the CFTC, as well as prediction market ope…
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Nevada sportsbooks rebound in June handle due to World Cup, strong NHL and NBA Finals
Nevada’s sportsbooks capitalized on the World Cup and Vegas Golden Knights wagering in June, as prediction markets are starting to get phased out in the state. After sports wagering volume was down nearly $250 million through May, with the consensus that prediction markets took a lot of the handle, the state bounced b…
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BetMGM: Prediction Markets Push $500M EBITDA Goal Beyond 2027
BetMGM no longer expects to hit its $500 million annual EBITDA goal next year, due in part to increased competition from prediction markets. The joint venture of MGM Resorts and Entain reported mixed... The post BetMGM: Prediction Markets Push $500M EBITDA Goal Beyond 2027 appeared first on Legal Sports Report.
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Minnesota blocked from enforcing prediction market ban
A preliminary injunction suspends what would have been the first outright ban on prediction markets in the US. US.- District Judge Katherine Menendez has granted a preliminary injunction stopping the state of Minnesota from enforcing a ban on prediction markets that was due to take effect on August 1, 2026. The injunc…
Read summary →NCLGS Calls On Congress To Ban Sports Prediction Markets
The National Council of Legislators from Gaming States (NCLGS) made its stance against prediction markets clear at its summer meeting. The executive committee unanimously approved a resolution asking... The post NCLGS Calls On Congress To Ban Sports Prediction Markets appeared first on Legal Sports Report.
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Judge Halts Minnesota’s Prediction Market Ban, Giving Kalshi and Polymarket Temporary Win
A federal judge has stopped Minnesota from enforcing SF 3432, the first state law aimed at criminalizing prediction markets. The ruling, issued Monday, grants Kalshi, Polymarket, and the Commodity Futures Trading Commission a preliminary injunction just days before the statute was set to take effect. U.S. District Jud…
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Prediction Markets Must Engage With Regulators or Face Legal Heat, Warn Lawyers
The polarizing legal war pitting prediction markets and the Commodity Futures Trading Commission against states continues to dominate US courts. The parties are locked in a battle over whether or not sports-related prediction market contracts constitute gambling. But lawyers say this thorny legal question may just be …
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Minnesota Judge Rules in Favor of Prediction Markets, Going Against Congress’ Intent
Prediction markets secured a legal victory in Minnesota, blocking the state’s plan to ban most event contracts. However, on the same day the judge issued the ruling, former Sen. Chris Dodd clarified that the rule he cited should be used to prohibit sports-event contracts. In the ruling, Judge Katherine Menendez cited …
Read summary →Fanatics Acquisition Will Bring Prediction Markets In-House
Fanatics is the latest sports betting operator to invest in bringing its prediction market infrastructure in-house. Fanatics is acquiring Water Street Labs, a Commodity Futures Trading... The post Fanatics Acquisition Will Bring Prediction Markets In-House appeared first on Legal Sports Report.
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NEXTPredict uses prediction market to hedge conference risk
NEXTPredict has executed what it says is the first use of a prediction market to hedge the financial risk of a major conference, securing up to $3m in coverage for its World Prediction Markets Summit in New York this October. The hedge was placed through Kalshi’s recently launched flight cancellation market, with Susq…
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U.S. federal judge halts Minnesota law banning prediction markets
Ruling lets Kalshi, Polymarket keep operating
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Kalshi threatens Netflix over prediction markets documentary trailer
The operator claims the Instadocs: The Prediction Games trailer is defamatory. US.- Kalshi has sent Netflix a cease-and-desist letter demanding the immediate removal of the trailer for the documentary Instadocs: The Prediction Games. It claims that the video is defamatory and contains fabricated documents along with f…
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SABA Issues Statement on Unregulated Prediction Markets and Betting Exchanges in South Africa
The South African Bookmakers’ Association (SABA) states that betting prediction markets should neither be authorized nor considered within the current legislative framework, as they fall outside the scope of existing laws and should be treated as exchange-style betting products A new frontier has emerged with the grow…
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South African Bookmakers’ Association calls for ban on prediction markets amid integrity concerns
A trade body representing South African bookmakers has urged regulators to ban unlicensed prediction markets over concerns relating to integrity, AML and lost tax revenue.
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How to reduce CAC in sports betting: 6 tactics operators actually use in 2026
Customer acquisition cost in sports betting has reached $250–$750 per player and is still climbing. Prediction markets are bidding up the same sports keywords and media inventory that traditional sportsbooks rely on, while operators opening new regulated states and provinces face the same auction pressure from day one…
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Kalshi loses second injunction bid in New York court
On July 27, 2026, a federal court in New York denied Kalshi’s emergency injunction bid against state officials, which aimed to block regulators from applying state gambling laws on federally regulated prediction markets. The ruling comes just weeks after New York denied a preliminary injunction for Kalshi on July 7, 2…
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“False and Misleading”: Kalshi Threatens to Sue Netflix Over Documentary
On July 26, Netflix released a new documentary on prediction markets exploring the fast-growing world of prediction markets. The documentary features interviews with several prominent figures in the industry, including Kalshi chief executive officer Tarek Mansour, Polymarket chief executive officer Shayne Coplan, and …
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Netflix’s prediction markets series causes industry criticism
On July 26, 2026, Netflix presented its newest documentary covering prediction markets, called “Instadocs: The Prediction Games,” after which the streaming company received industry criticism from operators like Kalshi, claiming that the series contained fabricated and defamatory content. According to Netflix, the doc…
Read summary →New York Federal Judge Denies Kalshi an Injunction for Second Time This Month
Ruling comes hours after a Minnesota federal judge agreed to block temporarily a state law banning prediction markets A federal judge in Manhattan on Monday denied Kalshi’s request for an emergency injunction in its case against New York state officials, which would have prevented state gaming regulators from taking a…
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CFTC advisory warns against broad self-certification of event contracts
Self-certification has been one of the most controversial aspects of prediction markets, and even the CFTC is warning operators about going too far.
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After House Hearing, CFTC Refreshes Prediction Markets on Self-Certification
Some prediction markets do not follow ‘core principles’ when introducing new contracts, agency advises. Last week’s hearing by a House subcommittee on prediction markets may not lead to legislation coming from the House Agriculture Committee, but it’s already having an impact. Late Friday, the U.S. Commodity Futures T…
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Robinhood reportedly in talks to add Crypto.com's prediction markets
According to WSJ
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