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Polymarket partners with Nasdaq Private Market on private-company event contracts

Deals & M&A

Polymarket said on 19 May it is partnering with Nasdaq Private Market to offer event contracts tied to privately held companies. The contracts may cover valuation milestones, IPO timing and secondary-market activity; Nasdaq Private Market will provide data to resolve them. The offering does not give traders access to company equity.

The partnership adds private-company event contracts to Polymarket without providing access to shares.

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Deals & M&A

Kalshi sues Illinois over 15% tax on sports event contracts

Kalshi has filed a federal lawsuit against Illinois over a new 15% levy on gross receipts from sports-event contracts on prediction markets. The law, part of a $56bn annual budget signed by Governor JB Pritzker, takes effect on 1 July. Kalshi is seeking a temporary restraining order and accuses the state of violating the US Constitution's Supremacy Clause.

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