Polymarket is reportedly seeking to raise about $400m at a potential $15bn valuation. The report also says weekly trading volume has exceeded $1bn and that Intercontinental Exchange has invested in the platform and plans to offer its data to investors.
A possible raise and reported institutional investment could affect the funding and commercial direction of a prediction-market platform.
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Kalshi is exploring another capital raise that could value the prediction-market company at about $40bn as early as the third quarter, according to the report. Its latest fundraising round valued it at about $22bn; Donald Trump Jr.’s earlier equity grant was reportedly worth about $300,000 when Kalshi’s valuation was below $2bn.
Ohio's Casino Control Commission confirmed that Robinhood, Gemini and Moomoo Financial had stopped offering new sports event contracts to Ohio customers, while Coinbase agreed to halt them by 13 November. The four firms join Plus500US in complying with cease-and-desist orders issued to 10 operators; two others have sued Ohio and three remain in discussions with the commission.
Robinhood, Gemini and Moomoo Financial have ceased providing new sports event contracts to Ohio customers, the Ohio Casino Control Commission told Legal Sports Report. Coinbase has agreed to halt its offerings by 13 November.
France Football has opened an investigation into suspicious betting patterns around the Ballon d’Or, reportedly, and said French police would also be involved. The report says 12 Polymarket accounts wagered a combined $264,000 on the final top-five ranking, while seven accounts bet only on that event.
The organisation has opened an official probe into the suspicious betting patterns. French police are to take part in the inquiry as well. France Football has promised to establish whether any parties bear responsibility. Its position is that the winners were chosen through a vote run independently.
French police are reportedly investigating suspicious bets on Polymarket linked to the latest Ballon d’Or. Twelve accounts allegedly staked over 264m euro on the order of the first five finishers, with a reported profit of almost 200m dollars. France Football contacted police after receiving a warning before the final rankings were announced.
French police are reportedly investigating suspicious bets on Polymarket linked to the latest Ballon d’Or, placed from twelve accounts. The accounts were allegedly created by the same person between 1 and 20 October, just three days after the jury closed voting.
The CFTC said on 5 November that registered designated contract markets must remove domestic geographic restrictions that conflict with its fair-access requirements within 30 days. Exchanges must also ensure partner intermediaries comply, or explain in writing why they cannot; the guidance comes amid state court orders requiring restrictions in several states.
The CFTC said on 5 November that registered prediction market operators must unblock geoblocked states within 30 days. Under its new interpretative guidance, designated contract markets that cannot comply may instead explain in writing why they cannot.