The NFL has taken a strong stance against prediction markets, filing a brief in support of New Jersey against Kalshi. The league argues that these markets lack adequate regulation and consumer protections.
Kalshi, a prediction market platform, is under fire for alleged wash trading in its cryptocurrency markets. The company denies the accusations, but industry observers remain skeptical.
A federal court has allowed Utah to continue enforcing its gaming laws against Kalshi, denying the company's request for an injunction. Kalshi argued it operates under federal regulation, but the court sided with Utah.
Kalshi has suspended its player injury markets after the CFTC raised concerns about potential market manipulation. The platform had previously offered markets on athletes like Luka Dončić and Anthony Edwards.
Kalshi has issued a permanent ban to former US Congressman George Santos for insider trading, along with a hefty fine. Santos has responded with threats.
Kalshi has inked multi-year brand partnerships with five MLB teams, including the Atlanta Braves and Boston Red Sox, despite ongoing legal disputes.
Genius Sports has partnered with Kalshi to provide prediction market services, including high-quality, real-time data across major soccer leagues. The partnership aims to enhance the integrity and transparency of sports trades.
New York's Attorney General Letitia James and Governor Kathy Hochul have filed a lawsuit against Kalshi, accusing the company of operating an illegal gambling platform. Kalshi, however, maintains that its products are regulated financial instruments.
Kalshi will stop offering prohibited contracts in Nevada from August 12, 2026, after reaching an agreement with the Nevada Gaming Control Board (NGCB). The platform faces a $120,000-per-day fine if it does not comply.