Kalshi raised $1 billion yesterday. Sequoia, a16z, and Coatue handed it over at a $22 billion valuation — making Kalshi one of the most richly valued companies in the prediction market space, or the sports betting space, depending on which regulator you ask. Arizona says the second one, and they’ve filed 20 criminal misdemeanor countsContinue reading “Kalshi Is Running a Sportsbook and Calling It a ‘Prediction Market’ — And States Are Fighting Back”
Tag Archives: CFTC
The Appeals Court Ruling That Could Send Sports Betting to the Supreme Court
Eight years ago, PASPA fell and 39 states built a $13-plus billion legal sports betting industry from the rubble. Now a federal appeals court ruling — and a circuit split that appears to be forming in real time — could bypass that entire structure, not through new legislation but through a 1974 commodities law thatContinue reading “The Appeals Court Ruling That Could Send Sports Betting to the Supreme Court”
DraftKings Is Spending $48M to Kill Prediction Markets While Secretly Building One — This Is the Industry
A federal appeals court ruled on April 6 that Kalshi’s sports contracts are legal “swaps” under the Commodity Exchange Act, putting the CFTC — not state gaming boards — in the driver’s seat on prediction markets. The Third Circuit went 2-1. The dissenting judge called it “a performative sleight meant to obscure the reality thatContinue reading “DraftKings Is Spending $48M to Kill Prediction Markets While Secretly Building One — This Is the Industry”
Betting Sports Blog 