Category: Prediction Markets
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NCPG Accuses NV Council Of Misrepresenting Kalshi-Related Exit
America’s largest problem-gambling advocacy organization is accusing its former Nevada affiliate of misrepresenting why their relationship ended. In an internal email reviewed by GamblingHarm.org, the National Council on Problem Gambling says records show the Nevada Council on Problem Gambling had already failed to renew its affiliation before the $2 million Kalshi relationship was publicly announced…
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CFTC Declares ‘Emergency’ To Protect Kalshi Versus New York
The Commodity Futures Trading Commission invoked its “emergency authority” after New York’s lawsuit against prediction-market company Kalshi, escalating the federal government’s fight with states over sports betting. On Tuesday, the CFTC announced that it ordered KalshiEX to keep operating under federal derivatives law after Kalshi notified the agency of a “market emergency.” The claimed emergency…
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NCPG Continues To Fracture With Nevada Council Exit
The Nevada Council on Problem Gambling plans to sever ties with the National Council on Problem Gambling (NCPG) over its controversial Kalshi partnership. Nevada Council Executive Director Trey Delap told the Nevada Current that the organizations are “no longer mission-aligned,” citing concerns about gambling harm, young people, and Kalshi’s effort to characterize its wagering products…
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Trump Ditches His Own Plan For Online Sports Betting Product
President Donald Trump’s media company is backing away from its plan to embed sports betting-style prediction markets into Truth Social, Axios reported Friday. Trump Media & Technology Group is scaling back its planned “Truth Predict” product. Instead of building Crypto.com’s prediction markets into Truth Social, Trump Media now plans a marketing arrangement to promote Crypto.com’s…
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DraftKings Finally Being Sued Over ‘Predictions’ Product
Over the last week, at least three lawsuits were filed against DraftKings related to its so-called “sports event contracts” on its prediction market. Two were filed in federal court in Massachusetts, where DraftKings is based. – Chan v. DraftKings Inc. et al – Gordon et al v. DraftKings Inc. et al Another was filed in…
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