Key Highlights: The International Association of Gaming Regulators (IAGR) and North American Gaming Regulators Association (NAGRA) have backed New Jersey’s formal appeal asking the Supreme Court of the United States (SCOTUS) to review whether state gambling laws apply to prediction markets. Conflicting judicial rulings across Illinois, New Jersey, Wisconsin, Ohio, and Tennessee have produced a ...
Key Highlights New York Attorney General Letitia James and Governor Kathy Hochul filed a lawsuit Thursday accusing Polymarket of operating an unlicensed gambling business in violation of state law. The complaint alleges Polymarket avoided licensing requirements and taxes that fund public schools, youth sports, and problem gambling treatment, while allowing users aged 18 to 20 ...
Key Highlights The CFTC issued a staff advisory warning that “mention markets” — betting on what a specific individual might say or do — are “presumptively readily susceptible to manipulation.” The regulator distinguishes these markets from standard event contracts because outcomes depend on “the discrete conduct of a named person” rather than independently generated, externally ...
Key Highlights Polymarket faced a $10 million fraud attempt in February involving stolen debit cards and an 80% deposit rejection rate, prompting the resignation of its U.S. compliance chief and the firing of the U.S. division CEO and other compliance executives. Despite the fraud episode and ongoing CFTC investigations into potential insider trading on events ...
Bitcoin Price Rally Driven by US Debt Concerns, Not Crypto Regulation, Says Bitwise CIO Matt Hougan Bitcoin’s recent price surge appears to be fueled primarily by mounting concerns over the United States fiscal outlook rather than progress on cryptocurrency-specific legislation, according to analysis from Bitwise Chief Investment Officer Matt Hougan. Inverse Correlation Between Regulatory Odds ...
Bitwise Chief Investment Officer Matt Hougan suggests Bitcoin’s price rally could persist while U.S. debt concerns remain unresolved, pointing to a divergence between crypto regulatory expectations and actual market performance. In a post on social platform X, Hougan shared a chart tracking the relationship between legislative odds and Bitcoin’s price action from July 1 to ...
CFTC Opens Three Insider Trading Investigations Into Polymarket The Commodity Futures Trading Commission has launched at least three previously unreported investigations into suspected insider trading on the prediction market platform Polymarket, according to a report from WIRED. The probes target event contracts tied to presidential pardons issued by former President Joe Biden, Iran-related geopolitical outcomes, ...
Riot Games Explores Prediction Market Sponsorships Ahead of League of Legends World Championship Riot Games has entered discussions with prediction market operators Kalshi and Polymarket regarding potential esports sponsorship agreements, according to a Bloomberg report published on September 11. The talks come weeks before the League of Legends World Championship kicks off in October. Riot ...
Elastics Executive Predicts Prediction Markets Will Displace Traditional Commercial Insurance Jan Czarnocki, Chief of Staff and General Counsel at Elastics, appeared on the NEXTPredict Podcast to outline a transformative vision for prediction markets. According to Czarnocki, these platforms are poised to evolve well beyond retail sports betting and eventually displace traditional commercial insurance models. Shift ...
Polymarket Appoints Finance Veteran Warren Jenson as CFO to Drive U.S. Expansion Prediction market platform Polymarket has named Warren Jenson as its new Chief Financial Officer, a strategic hire aimed at accelerating the company’s U.S. expansion and strengthening global operations. Jenson will report directly to Founder and Chief Executive Officer Shayne Coplan. Seasoned Executive to ...
Donald Trump Jr.’s venture capital firm, 1789 Capital, is leading a $1 billion funding round for prediction market Polymarket, valuing the company at $21 billion,…
Kalshi, the regulated U.S. prediction-market exchange, has issued its first permanent trading ban, barring former Representative George Santos and fining him more than $70,000 for…