The US Commodity Futures Trading Commission has approved Railbird Exchange to operate as a designated contract market. Railbird plans to launch later this year with cash-settled contracts tied to real-world events, and says it will clear trades through QC Clearing.
The designation permits Railbird to prepare a federally regulated event-contract marketplace for launch.
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DraftKings chief executive Jason Robins said on the company’s first-quarter call that its market-making arm, launched earlier in 2026, had already generated a positive return. DraftKings plans to offer a proprietary prediction-market exchange through Railbird Exchange; the company acquired Railbird for $84.8m, the report said.
A B. Riley analyst said Genius Sports could benefit as prediction markets expand, including through data agreements with sportsbook operators entering event contracts. Josh Nichols reiterated a buy rating and a $14 price target; he also cited potential demand linked to sports contracts in California and Texas.
Scott Bright filed a lawsuit against Kalshi in King County Superior Court, alleging the platform violated Washington's online gambling ban. His complaint says he lost $308,781.62 between 17 June and 14 August 2026; Kalshi has sought dismissal and argues its event contracts are regulated under federal law and that counterparties, not the company, received his losses.
Scott Bright has sued Kalshi in Washington, alleging that its prediction market violated the state's online gambling ban. Kalshi has sought to dismiss the case.
The Alabama-Quassarte Tribal Town and Samuel Marshall Jr. filed a lawsuit against Kalshi and three other defendants on 30 October in Muscogee (Creek) Nation District Court, seeking to stop PokkeTrades’ launch. The plaintiffs say Wilson Yargee lacked authority to sign the deal; Kalshi says the agreement is valid and that a tribal council approved it.
The Alabama-Quassarte Tribal Town and Samuel Marshall Jr. have sued Kalshi and other defendants, seeking an emergency order to stop the launch of the proposed PokkeTrades prediction market app. The plaintiffs allege that Wilson Yargee lacked authority to approve the partnership behind it.
Polymarket and Crypto.com-owned OG.com filed separate federal lawsuits against Arkansas officials, seeking to prevent enforcement of state gambling laws against their event-contract markets. Both companies cite the state’s recent case against Kalshi as evidence that they could face enforcement; the suits argue federal law pre-empts Arkansas law.
Prediction-market operators Polymarket and OG, which is owned by Crypto, have brought separate federal suits to stop Arkansas from applying state gambling laws to their markets. Their defendants include Attorney General Tim Griffin and members of the Arkansas Racing & Gaming Commission, according to the source.