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Prediction market platform Kalshi is reportedly seeking a $40 billion valuation in its latest funding round, according to the Financial Times. The aggressive valuation target comes remarkably quickly after the company closed a $1 billion Series B funding round just weeks prior, signaling explosive investor appetite for the crypto-native trading platform. The move underscores the…
Former U.S. Representative George Santos has been referred to both the Department of Justice and the Commodity Futures Trading Commission over trades he made on Kalshi, a crypto-based prediction market platform, according to a new report. The referral centers on trades Santos allegedly placed related to the State of the Union address, raising fresh questions…
A study has challenged the long-held belief that prediction markets harness the “wisdom of the crowd,” revealing instead that these platforms primarily reflect the insights of a small, well-informed minority of participants. The research, which analyzed trading patterns and outcomes across major prediction market platforms, found that market accuracy stems not from aggregating diverse opinions…
A federal judge in Arizona has temporarily barred state officials from enforcing gambling laws against prediction market platform Kalshi, marking a significant victory for the Commodity Futures Trading Commission in an escalating dispute over event-based trading products. Judge Michael Liburdi of the US District Court for the District of Arizona granted a request from the…
At least 42 Democratic lawmakers have formally requested that the United States Commodity Futures Trading Commission and the Office of Government Ethics issue comprehensive guidance warning federal employees against using insider information to trade on prediction markets. The letter, addressed to CFTC Chair Mike Selig and the Office of Government Ethics, cited “multiple incidents” that…
