Prediction Markets Face Off With US States in Widening Legal Fight
A legal dispute over the future of Kalshi, Polymarket and similar platforms has expanded to involve nearly every state attorney general in the United States.
The legal dispute that will shape the future of prediction markets such as Kalshi and Polymarket has grown into a broad political and judicial confrontation in the United States. According to The New York Times, the case has drawn in the Trump administration, the president's son and nearly every state attorney general.
Prediction markets are platforms where users buy and sell contracts tied to the outcome of future events. At the centre of the dispute is which regulatory framework applies to them: federal derivatives rules or state gambling law.
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Full report: The New York Times.
