By SectorWire desk ·
Prediction markets captured 27% of World Cup wagering activity. Kalshi’s trading volumes reached new highs, exceeding its previous peak during the Knicks’ playoff run.
The reported share points to prediction markets competing with sportsbooks for World Cup activity.
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The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The denial challenges Kalshi’s account of a tribal partnership.