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Polymarket and Kalshi face questions over Italy's prediction-market rules

Regulation

A report examines whether prediction-market platforms such as Polymarket and Kalshi could conflict with Italian laws. It compares their event-based contracts with binary options and says Kalshi operates under US Commodity Futures Trading Commission supervision, while the article text ends before its discussion of the Italian legal position is complete.

Operators and regulators face classification questions about prediction-market contracts and their treatment under Italian rules.

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Regulation

CFTC orders exchanges to end US geofencing within 30 days

The Commodity Futures Trading Commission ordered designated contract markets to end US geofencing that conflicts with impartial-access requirements within 30 days, or explain why they cannot comply. The order puts exchanges offering sports-event contracts at odds with court orders restricting Kalshi in several states and on tribal lands. Chairman Michael S. Selig said derivatives markets must operate nationally.

Within 30 days, designated contract markets must end geofencing restrictions in the U.S. that violate “impartial access requirements,” or give reasons they cannot comply, the CFTC has ordered. CFTC Chairman Michael S. Selig said in a statement that derivatives markets "must operate on a uniform basis at a national scale" to serve the purposes of the Commodity Exchange Act.

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