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New York Goes After Polymarket Again: Prediction Market Regulatory Battle Spreads to Four Firms
New York Attorney General Letitia James and Governor Kathy Hochul have sued Polymarket's US arm, accusing it of running an unauthorized gambling operation—the fourth legal action New York has taken against prediction market platforms in the past six months.
Three Platforms, One Ban: Underdog First to Sue Connecticut
After Connecticut issued cease-and-desist orders to Underdog, Polymarket, and Coinbase, Underdog chose to fight back in court, becoming the first of the three to take legal action.
LeBron James Teases Polymarket Partnership in Social Media Video, Free Agency Moves Once Drove $273M in Prediction Market Volume
LeBron James posted a video on social media hinting at a partnership with prediction market platform Polymarket. His past free agency decisions have previously driven $273 million in trading volume across prediction markets.
JPMorgan Cuts Off Polymarket's Banking Ties, But Still Wants In on a Future IPO
According to FT, JPMorgan severed its banking relationship with Polymarket last October, yet both sides insist they maintain a "close and active" relationship. At the heart of this tug-of-war: a potential future IPO deal.
Baltimore Sues Kalshi, Polymarket — And Drags Coinbase, Robinhood Into It Too
Baltimore Mayor Brandon Scott and the City Council have filed suit against prediction markets Kalshi and Polymarket, naming trading platforms Coinbase, Robinhood, and Webull as well, alleging illegal sports betting.
Simulated Profit Screens Spark Backlash: NYC Council Sends Letters Demanding Polymarket, Kalshi Answer 60+ Marketing Questions
The New York City Council has sent investigative letters to four prediction market platforms—Polymarket, Kalshi, Coinbase, and Gemini—over advertising practices, risks of exposure to minors, and consumer protection, focusing on whether simulated trading videos mislead users.
SEC Pulls the Plug the Night Before, Reg Crypto Rules Stall on an Eight-Word Excuse
New crypto asset issuance rules set for a vote were quietly postponed by the chairman's own agency the night before the meeting, with only an eight-word reason given. The same week, the CLARITY Act stalled in the Senate, and Polymarket odds got cut from 80% to under 20%.
Valuation Doubles in Half a Year! Kalshi Eyes $750M Raise to Hit $40B, With the World Cup as the Biggest Driver
Prediction market platform Kalshi is reportedly in talks with Sequoia Capital and Wellington Management to lead a new funding round, with its valuation set to double from $20 billion in May to $40 billion—driven by a surge in revenue from sports contracts.
Kalshi's Valuation Doubles in Three Months to $40 Billion, Sequoia and Wellington Rush In With $750 Million
Kalshi raised funding at a $22 billion valuation just in May, and three months later the number being floated is $40 billion. Sequoia Capital and Wellington Management are both in talks to lead the round, backed up by annualized revenue that doubled in a single month.