Kalshi has launched prediction markets in Brazil, its first market outside the US. The company said it will initially offer contracts on financial and economic events rather than sports.
The launch extends Kalshi’s prediction-market business into Brazil, where the source says there is no formal framework governing the activity.
The day’s most important stories, free. One email a day.
Robinhood and Polymarket filed separate federal lawsuits seeking to stop Missouri officials from enforcing gambling laws against their sports event contracts. Both argue that federal commodities law gives the Commodity Futures Trading Commission exclusive jurisdiction; Missouri Attorney General Catherine Hanaway has separately filed counterclaims alleging Novig violated federal and state laws.
Robinhood and Polymarket filed separate federal lawsuits seeking to stop Missouri officials from applying gambling laws to their sports event contracts. Both companies argue that the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the products, rather than state gambling regulators.
Thirty-seven US states, the District of Columbia and the Northern Mariana Islands submitted a brief supporting New York against Kalshi to the Second Circuit Court of Appeals. Registered on 6 November, the brief argues that federal derivatives law should not prevent states from enforcing sports-betting and consumer-protection rules; a separate group of 38 states filed a Wisconsin brief concerning Polymarket, Coinbase, Robinhood and Crypto.com.
A coalition of 37 US states, the District of Columbia and the Northern Mariana Islands has filed a brief supporting New York in its case against Kalshi at the Second Circuit Court of Appeals. The brief, filed on 6 November, argues that federal derivatives law should not prevent states from applying sports-betting and consumer-protection rules.
Samuel Marshall Jr. filed a lawsuit on 30 October in Muscogee (Creek) Nation District Court seeking to stop Kalshi from launching PokkeTrades, an app developed with the Alabama-Quassarte Tribal Town. The plaintiffs say Wilson Yargee lacked authority to sign the partnership agreement; Kalshi says the tribal council approved the deal and a signed contract is valid. Both Marshall and Yargee claim to have won the 2025 reelection, and the Bureau of Indian Affairs recognises both as chiefs while the dispute remains unresolved.
Samuel Marshall Jr. is seeking to block Kalshi's launch of PokkeTrades, a prediction-market app created with the Alabama-Quassarte Tribal Town, according to the lawsuit. Marshall Jr. filed the challenge in Muscogee (Creek) Nation District Court on 30 October.
The US CFTC gave markets under its supervision 30 days from its 5 November announcement to remove domestic geographic restrictions or explain why they cannot do so. The direction does not legalise all prediction contracts or override court orders; on 4 November, a federal judge ordered Kalshi to stop offering sports contracts in territories of the Indigenous communities that brought the case.
The US CFTC has given markets under its supervision 30 days to remove domestic geographic restrictions that conflict with impartial access rules or explain why they cannot do so. The decision was announced on 5 November.
Spain’s DGOJ described prediction markets as cross-betting products in a 26 May notice, while its director general reiterated at MERGE Madrid in late October that gambling products require a licence to operate in Spain. The notice did not specify which licence applies; the article interprets the existing cross-betting category as potentially relevant. Italy’s 2013 rules allow player-to-player betting on non-sporting events, but the source says such events have not become part of a working exchange market.
Spain's DGOJ described prediction markets as player-to-player cross-betting in a 26 May notice, but did not say which licence applies, according to an analysis on an Italian gambling industry site. The author said a link to an existing cross-betting licence was an interpretation.