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Tag: kalshi
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Arizona Hits Kalshi With Criminal Charges Over ‘Illegal Gambling’
Arizona Attorney General Kris Mayes has filed criminal charges against Kalshi, accusing the company of operating an illegal gambling business in the state without a license and taking prohibited bets on elections. The 20-count criminal information names KalshiEx LLC and Kalshi Trading LLC, the companies behind the prediction markets platform. Arizona alleges that Kalshi accepted…
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Kentucky Derby Owner Warns Prediction Markets Over Illegal Bets
The Kentucky Derby owner has warned prediction markets not to take bets on May’s race. In an earnings call on Thursday, Churchill Downs CEO Bill Carstanjen said that his company has not given any prediction market permission to facilitate gambling on the Kentucky Derby. In 2025, Polymarket, a leading prediction market, had around $1.2 million…
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What Is A Prediction Market?
A prediction market is a platform that facilitates betting on countless real-world events, spanning politics, culture, economics, and sports. Its defining feature is the buying and selling of contracts. Prediction markets are peer-to-peer, meaning users bet against each other, with the platform typically charging transaction fees. This is distinct from a betting platform that offers…
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NBA’s Giannis Antetokounmpo Invests Up To $110M Into Kalshi
Giannis Antetokounmpo, the Milwaukee Bucks star and former NBA MVP, announced that he’s an investor in the online gambling platform Kalshi. Kalshi, the leading U.S. prediction market by volume, is valued at more than $10 billion, but some warn the sector faces risks of overvaluation amid legal uncertainty. NBA Commissioner Adam Silver said two weeks…
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Online Casino Prediction Markets: Are They Coming?
Nationwide online slots, roulette, and blackjack certified federally with minimal safeguards? It sounds like a bad dystopian TV episode. Mike Selig, CFTC chair, on Bloomberg’s Odd Lots was asked if prediction markets could power online casino games. He pushed back, but conceded it could happen. “It’s possible that you could construct some sort of contract,…
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