Kalshi Sues Minnesota Over Prediction Market Ban
KalshiEX filed a federal complaint in Minnesota seeking declaratory and injunctive relief against state officials over a new prediction-market ban. The lawsuit argues Minnesota is trying to regulate federally supervised event contracts as illegal wagering, directly conflicting with the Commodity Exchange Act and the CFTC’s claimed exclusive jurisdiction over designated contract markets.
CFTC and Gemini Ask Court to Vacate $5M Settlement
The U.S. Commodity Futures Trading Commission and Gemini Trust Company filed a joint motion in late May 2026 asking a federal court to vacate a January 2025 consent order. The order required Gemini to pay $5 million and accept a permanent injunction, but both sides now argue the underlying enforcement case was flawed.
Minnesota Prediction Market Ban Draws Swift CFTC Challenge
Minnesota has moved prediction markets into the center of a high-stakes regulatory fight after Governor Tim Walz signed a law making the operation or promotion of such markets a felony in the state. The ban is scheduled to take effect on August 1, 2026, but its future is already in doubt after the Commodity Futures […]
Polymarket Seeks Full CFTC Clearance for Direct U.S. Access
Polymarket is pursuing broader approval from the U.S. Commodity Futures Trading Commission to let American users trade directly on its primary on-chain prediction market. The effort would move the platform beyond its current intermediated U.S. structure and place its blockchain-native exchange model more directly under federal supervision.
House and Senate Democrats Press CFTC Chair Over Insider Trading, War Bets on Prediction Markets
Democratic lawmakers have intensified pressure on the Commodity Futures Trading Commission after sending letters to Chair Michael S. Selig demanding answers on insider trading, war-related contracts and offshore prediction-market activity. The intervention raises the political cost of the CFTC’s current posture just as federal courts and federal agencies have been strengthening the case for national […]
Third Circuit Bars New Jersey from Regulating Kalshi, Affirms CFTC Authority
Kalshi scored a major legal win when the U.S. Court of Appeals for the Third Circuit ruled 2-1 that New Jersey cannot use state gambling law to block its sports prediction contracts. The decision gives Kalshi a stronger legal foundation to keep offering those contracts in the state while the broader fight over prediction markets […]
Tennessee Judge Enjoins State Action Against Kalshi, Finds Sports Contracts Likely Cftc‑regulated Swaps
U.S. District Judge Aleta Trauger issued a preliminary injunction blocking the Tennessee Sports Wagering Council from enforcing state gambling laws against Kalshi’s sports-event contracts. The immediate result is that Kalshi can continue operating in Tennessee while the litigation moves forward.
Kalshi Inks Game Point Capital Deal to Serve Sports Insurance Market as Legal Battles Intensify
Kalshi said that it is teaming up with sports-insurance broker Game Point Capital to bring institutional hedging for team performance bonuses and similar payout risks onto its platform, with Game Point expected to route about $30 million per year through Kalshi. The commercial pitch is straightforward: take a lumpy, event-driven liability that is often handled […]
Polymarket Sues Massachusetts, Citing CFTC Preemption After Judge Bars Kalshi Sports Markets
Polymarket escalated its fight with state regulators by filing a federal lawsuit on February 9, 2026 in the U.S. District Court for the District of Massachusetts. The company is seeking to block state-level enforcement after a Massachusetts judge ordered rival Kalshi to stop offering sports-event contracts in the state, setting up a high-stakes conflict between […]
How The SEC Handled Crypto Cases 12 Months into Trump’s Presidency
60% fewer enforcement cases, high-profile dismissals, and a reorganized enforcement apparatus defined the SEC’s crypto posture in the year after President Trump returned to office. The agency’s stance effectively moved from broad, aggressive ICO policing to a 2025 model centered on narrower fraud actions and a heavier reliance on structured rulemaking.