Sporttrade filed documents with the Commodity Futures Trading Commission seeking designation as a contract market, the company said. Approval would give it federal status to enter prediction markets, while its application remains pending; the source says such decisions can take years.
The application could determine whether Sporttrade can offer prediction-market products under federal designation.
| Date | Company | Amount | Story | Appeal status |
|---|---|---|---|---|
| FanDuel, CME Group | Not stated | FanDuel expands Predicts to all 50 US states | Not stated | |
| Gemini | Not stated | CFTC grants Gemini Titan a designated contract market licence in the US | Not stated | |
| Polymarket | Not stated | Polymarket says CFTC authorises US return as a contracts market | Not stated |
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The CFTC submitted two proposed rules to the White House Office of Information and Regulatory Affairs for review. One would exclude casino-style products from the definition of swaps, while the other would include event contracts; both remain under review.
It was reported that Novig sued New York, Massachusetts, Washington and New Mexico after launching its standalone prediction market platform. The platform launched nationwide under CFTC regulation, according to the report.
US lawmakers introduced the Facial Recognition to Protect Children Act alongside Kalshi CEO Tarek Mansour. The bill would require prediction markets and online sportsbooks to verify users' ages with facial recognition. Gaming lawyer Daniel Wallach said a section of the legislation could allow prediction markets to expand into sports and gaming.
King County Superior Court Judge John McHale granted a preliminary injunction against Kalshi, finding Washington was likely to succeed in its claims that the platform’s sports-related event contracts violate state gambling laws. The injunction is not due to take effect before 5 August, and the court directed the parties to submit proposed terms by 3 August. Kalshi said it disagreed with the court’s interpretation.
A federal judge denied Kalshi’s request to block New York from enforcing its gambling laws against the company, and Kalshi appealed the ruling the same day. Judge Analisa Torres found that New York’s laws were not pre-empted by federal derivatives law; the appeal moves the case to the US Court of Appeals for the Second Circuit.