Kalshi
Found 5 recent publications
The hit among US youth: They poured $5.4 billion into Kalshi this year
Young people aged 18 to 21, who are legally prohibited from gambling in most US states, poured about $5.4 billion this year into the prediction platform Kalshi. This regulatory gap exists because such platforms are defined as financial markets and regulated at the federal level.
Kalshi reported 32 cases of suspected insider trading
The betting platform Kalshi reported 32 cases of suspected insider trading to regulators in the second quarter. According to The New York Times, the Commodity Futures Trading Commission (CFTC) is currently conducting up to 20 active investigations based on this evidence.
Polymarket in Talks to Raise Funds at Over $20 Billion Valuation
Prediction platform Polymarket is seeking to raise $1 billion at a valuation exceeding $20 billion. The company faces stiff competition from Kalshi and an ongoing investigation by the CFTC.
Former Congressman George Santos Fined for Manipulative Betting Scheme
Former US House member George Santos has been ordered to pay a $35,000 fine by the CFTC for manipulative betting on the "Kalshi" platform. He artificially inflated the value of a bet regarding his attendance at Donald Trump's State of the Union address before failing to show up.
New York vs. Kalshi: State Attorney General Labels Prediction Platform an Illegal Gambling Site
New York Attorney General Letitia James has filed a lawsuit against the prediction platform Kalshi. Authorities allege the service operates without a license and functions as an illegal gambling site.