By SectorWire desk ·
Texas Attorney General Ken Paxton has not joined the expanding campaign by states against Kalshi and other prediction markets. The outlet contrasted his absence with his previous positions opposing gambling.
Texas Attorney General Ken Paxton remains outside states’ campaign against prediction markets despite his previous opposition to gambling.
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Investors assessing election betting growth must consider that Polymarket’s busiest 1% of wallets generated 70% of congressional trading volume.
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.