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White House hosts Kalshi and Polymarket ahead of CFTC advisory meeting

Regulation

The White House is due to host representatives of prediction-market and cryptocurrency businesses in Washington on 19 August, including Kalshi and Polymarket, according to reports. The meeting precedes the CFTC Innovation Advisory Committee’s first meeting on 20 August, where event contracts are among the topics; Kalshi argues its contracts fall under federal CFTC jurisdiction rather than state betting-licensing rules.

The discussions concern whether sports-related event contracts require state betting licences or fall under federal oversight.

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Illinois appeals injunction blocking enforcement of prediction markets law

Illinois officials appealed to the Seventh Circuit after a federal judge barred the state from enforcing its event-contract licensing and tax law. Judge Martha Pacold’s 30 October order covers licensing, fees, taxes and enforcement measures concerning swaps, including sports event contracts offered by CFTC-registered companies.

Illinois officials took the matter to the Seventh Circuit after a federal judge stopped the state from applying its event-contract licensing and tax law, the report said. The ruling came from Judge Martha Pacold in an order dated Friday, Oct. 30, according to the report. Pacold's order blocks enforcement of licensing requirements, associated fees, taxes and related criminal provisions, the report said.

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