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Today in prediction market news, we’re following the biggest stories as they develop, including Kalshi’s loss in its bid for a preliminary injunction in New York, Citadel Sports Group’s reported push into the prediction markets industry, Prospect Markets’ U.S. launch through a Crypto.com-backed partnership, growing state-level battles over prediction market regulation and taxation, and new analyst research highlighting the sector’s record momentum in June. Follow along for live updates on prediction markets, regulation, sports event trading, crypto, and the companies driving the industry’s next phase.
Live Updated 3 seconds ago
Judge hands Kalshi a New York setback
Suswati Basu 2:54 pmWell, that’s one way to start the day. Kalshi’s bid to hit the pause button on New York’s enforcement efforts has been rejected after a federal judge denied the company’s request for a preliminary injunction. It’s hardly game over — the underlying legal fight is still very much alive — but it’s a reminder that prediction markets continue to win some battles while losing others. With appeals brewing elsewhere, new CFTC filings landing, fresh state tax proposals, and heavyweight firms circling the sector, there’s no shortage of plot twists. Grab your coffee; prediction markets have served up another busy news cycle.
Big win for @NewYorkStateAG
Next up:
- AG James will file a civil enforcement action vs. Kalshi in state court, seeking restitution, disgorgement, civil penalties and injunctive relief.
- Kalshi will appeal the PI denial to CA2 and seek an im...
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