DeFi Rate authorMike Breen
Stories by Mike Breen
21–40 of 159, newest first
- Flutter Moves All FanDuel Predicts Sports Contracts to Crypto.com as Market Making Ramps Up
Flutter is moving all FanDuel Predicts sports contracts to Crypto.com while CME keeps financial markets, and its market making business is growing quickly.
- Novig Launches Federally Regulated Sports Prediction Market Platform Through Ludlow Exchange
A Tuesday app update told users Novig is now a federally regulated exchange, required acceptance of Ludlow Exchange terms and opened nationwide access to a broad lineup of sports contracts.
- Polymarket Reportedly in Talks for Funding at $20B-Plus Valuation
A potential $20 billion-plus valuation would narrow the gap with Kalshi, which was valued at $22 billion in May, as Polymarket’s revenue and U.S. trading volume continue to climb.
- Polymarket Secures ATP Tour Video Streaming Rights, a First Among Major U.S. Prediction Market Platforms
The exclusive deal will let Polymarket US users watch roughly 20,000 ATP and Challenger Tour matches per season directly alongside related prediction markets.
- New York Seeks at Least $36 Billion From Kalshi as CFTC Moves to Block Enforcement
The New York attorney general's enforcement action seeks to halt Kalshi event contracts and recover billions, while federal regulators ask a judge to stop New York from pursuing it.
- IG Group to Acquire Underdog for Up to $1.3 Billion in Major US Prediction Market Push
The British global online trading company announced the deal just 12 days after Underdog launched prediction markets through its own federally regulated exchange.
- Rush Street Hedges with Prediction Market Filings to Preserve ‘Strategic Flexibility’
BetRivers parent Rush Street is seeking CFTC exchange and clearinghouse approvals before deciding whether to launch a consumer prediction market product.
- Robinhood Reports $156M in Prediction Market Revenue Beating Crypto and Talks Perps
In its Q2 earnings release and call, Robinhood reported $156 million in prediction market revenue and said it plans to shift more flow to Rothera and eventually offer perpetual futures in the U.S.
- Kalshi, Polymarket and Other Exchanges Push CFTC for Clearer Event Contract Rules
Kalshi, Polymarket and other exchanges backed contract-by-contract review in comments on the CFTC's proposed rule but split on sports, combos and self-certification.
- Sports Leagues And Player Unions Press CFTC For Prediction Market Safeguards
In comments to the CFTC, sports leagues and player unions sought betting-style safeguards, including limits on injury, officiating and some player-specific markets.
- JuiceX Wins CFTC Exchange Approval as Job Postings Reveal Retail Prediction Market Plans
The CFTC approved Florida startup JuiceX as an exchange, and job listings suggest a sports-leaning retail launch clearing through Polymarket Clearing.
- Fanatics to Acquire BGC Prediction Market Exchange and Clearinghouse
Fanatics agreed to buy BGC Group's regulated exchange and clearinghouse, giving Fanatics Markets its own full stack to compete with DraftKings and FanDuel.
- Netflix’s “The Prediction Games”: 36 Minutes Is Not Enough for Prediction Markets
Netflix's The Prediction Games is more balanced than its trailer, covering founders, regulators, traders and the worst outcomes, but its short runtime can't do any of them justice.
- Prediction Market Rule Comments Put Sports Event Contract Debate Back Before CFTC
Comments on the CFTC's proposed prediction market rule show Kalshi-aligned users, sports-data firms, tribes, state lawmakers and consumer advocates split on sports contracts.
- Netflix Prediction Market Documentary Arrives One Week After World Cup Final
Netflix’s latest Instadocs documentary premieres Sunday, exploring the opportunities and risks behind the prediction market industry’s rapid growth.
- ProphetX, Players’ Lounge Deal Tests CFTC Rules for Prediction Market Tech Providers
Players’ Lounge is embedding ProphetX sports contracts without registering as a derivatives intermediary, using a model Phantom and other firms want federal regulators to formally allow.
- Kalshi and Sports Prediction Markets Critic Find Common Ground at Council on Foreign Relations Roundtable
Kalshi’s Robert DeNault and prediction market critic Mick Mulvaney agreed on the industry’s potential value but remained divided over sports contracts, consumer protections and state authority.
- Kalshi Turns Election Markets Into New Midterm Forecasting Hub
Kalshi's new Midterms Hub combines live House, Senate and governor market odds with maps, projected seats, polling and campaign-finance data.
- House Hearing Exposes Deep Divide Over Sports Prediction Markets
Witnesses at a House hearing clashed over whether sports event contracts are derivatives or gambling, as lawmakers raised youth access, manipulation and CFTC capacity.
- Kalshi World Cup Volume Exploded to $13.8 Billion, an All-Time Event Record
World Cup trading was the biggest event in Kalshi's history and drove new daily, weekly and monthly records. DeFi Rate breaks down the markets and matches that drew the most.