Several major prediction markets are forming a coalition to promote and defend their political interests amid a growing fight over sports betting, Axios has learned.
Kalshi and Crypto.com launch Coalition for Prediction Markets to defend CFTC-regulated expansion amid sports betting regulation. Regulatory clarity on prediction markets signals decentralized finance opportunity; CTO-relevant for compliance and architecture decisions.
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Several prediction markets are forming a coalition to promote and defend their political interests amid a growing fight over sports betting, people involved in the effort tell Axios.
Why it matters: Prediction markets are rapidly expanding their presence throughout the U.S., offering "event contracts" on sports, elections, news, entertainment and other topics.
A coalition of 44 states is fighting prediction market platforms like Kalshi, arguing sports event contracts are illegal gambling…
A new coalition of industry influence-peddlers is forming, tasked with defending these nascent businesses from regulation at all…
A University of North Carolina researcher explains how polling failures, gambling legalization and political gridlock led to…
Robinhood is suing both New Jersey and Nevada to argue that its users should have access to sports contracts.
The Sports Traders Union hopes to bring a credible voice that prediction market companies cannot dismiss as being from…
The CFTC moved Wednesday to formalize rules allowing prediction markets to offer the equivalent of sports betting nationwide.
