Kalshi and Rhode Island file opposing lawsuits over prediction markets

Kiswahili

Rhode Island's attorney general has sued prediction market platforms Kalshi and Polymarket, prompting a countersuit from Kalshi. The legal actions challenge the platforms' ability to offer sports-related event contracts in the state.

Rhode Island attorney general Peter Neronha filed suit against Kalshi and Polymarket earlier this week. He accused the platforms of bypassing state rules that restrict sports gambling to a single state-sponsored system. Neronha is seeking a permanent court ban on sports-related event contracts in Rhode Island.

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A Michigan judge issuing a restraining order blocking Kalshi from sports betting contracts in a courtroom setting.
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Michigan judge blocks Kalshi from sports betting contracts

Imeripotiwa na AI Picha iliyoundwa na AI

A Michigan judge has issued a temporary restraining order against prediction market platform Kalshi, barring it from offering sports-related wagers to state residents for 14 days.

Kalshi sues Illinois over prediction market tax

Kalshi filed a lawsuit against Illinois officials on Tuesday, challenging a new state tax on sports-related prediction markets. The suit was brought in the US District Court for the Northern District of Illinois. It alleges that state officials have overstepped federal regulatory authority.

Minnesota’s push to curb prediction markets runs into a federal preemption fight

Imeripotiwa na AI Imethibitishwa ukweli

Minnesota lawmakers have advanced legislation aimed at restricting prediction markets such as Kalshi and Polymarket, setting up a clash with the Commodity Futures Trading Commission, which argues federal law gives it exclusive authority over many of those products.

Crypto

Kalshi launches fair markets lobby group amid congressional probe

Crypto

Bernstein sees M&A wave ahead for prediction markets

Asia

Prediction markets remain popular in Hong Kong despite warnings

Kalshi requires employer disclosure to curb insider trading

Kalshi has introduced new rules requiring some users to disclose their employers before trading in high-risk markets. The measures aim to prevent insider trading and market manipulation on the prediction platform.

Influencers cite prediction markets to allege LA election fraud

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Pro-Trump influencers on X are using odds from prediction markets like Kalshi and Polymarket to claim fraud in last Tuesday's Los Angeles mayoral election, despite no evidence of wrongdoing.

Polymarket plans Japan market entry by 2030

Prediction market platform Polymarket has appointed a representative in Japan and aims to secure government approval to operate there by 2030. The move comes as the company faces legal pressures in the United States.

South Korea opens first probe into Polymarket users

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South Korean police launched the country's first illegal gambling investigation into domestic Polymarket users on June 5. The probe targets residents who placed bets on June 3 local election outcomes using cryptocurrency transactions.

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Hong Kong prediction market ban would face enforcement hurdles, lawyers say

Jumamosi, 27. Mwezi wa sita 2026, 21:09:25

Prediction markets draw federal scrutiny over insider trading

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Kalshi seeks funding at 40 billion dollar valuation

Jumatatu, 22. Mwezi wa sita 2026, 22:08:13

Poll shows Americans split on banning election-outcome betting

Jumatatu, 22. Mwezi wa sita 2026, 01:13:02

Polymarket reportedly paid creators for misleading videos

Jumanne, 26. Mwezi wa tano 2026, 22:58:18

Spain orders block on polymarket and kalshi over gambling laws

Jumatatu, 25. Mwezi wa tano 2026, 06:41:35

Indonesia blocks polymarket calling it online gambling

Jumamosi, 2. Mwezi wa tano 2026, 09:21:25

A16z supports CFTC against state prediction market bans

Alhamisi, 30. Mwezi wa nne 2026, 11:16:28

Polymarket partners with Chainalysis to combat insider trading

 

 

 

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