Legal News & Updates

Ongoing coverage of the legal and regulatory fights shaping US prediction markets, including CFTC actions, state challenges and court battles as they develop.

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Nevada Gaming Regulators Escalate Kalshi Litigation With Contempt Request

The Nevada Gaming Control Board has asked a state court to hold Kalshi in contempt of a May order that demanded that Kalshi stop allowing prediction market trades in the...

Derek Helling

June 15, 2026

A new coalition including Kalshi, Crypto.com and Polymarket US is challenging Kentucky’s first-of-its-kind prediction market tax and related business restrictions, setting up a legal test of how far states can go in regulating federally supervised event contract platforms.

Legal News & Updates

Kalshi, Crypto.com and Polymarket US Sue to Block Kentucky Prediction Market Tax

The lawsuit challenges Kentucky’s 14.25% tax and limits on gaming operators’ prediction market ties while also revealing the new Coalition for Fair Markets, which brings rival...

Mike Breen

June 13, 2026

Legal News & Updates

Gary Gensler Warns in Ohio Brief: If Kalshi Is Right, All Sports Betting Is Illegal

Gary Gensler, former Goldman Sachs partner, CFTC chairman from 2009-2014 and SEC chair from 2021-2025, has seen Dodd-Frank from every angle. He helped negotiate it, implemented it as CFTC...

Valerie Cross

June 12, 2026

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Legal News & Updates

Wisconsin Asks Court to Temporarily Block Trading of Sports Event Contracts on Coinbase, Kalshi, and Robinhood

Wisconsin’s anticipated motion for injunctive relief calls trading of prediction markets connected to sporting events “open, repeated, ongoing criminal violations” of the state’s...

Derek Helling

June 10, 2026

Legal News & Updates

New Mexico Attorney General Sues Kalshi in State Court Over Sporting Event Contract Trading

The lawsuit in the Santa Fe County District Court seeks an injunction blocking trades of event contracts connected to sports and a declaration that such trades qualify as sports...

Derek Helling

June 5, 2026

Legal News & Updates

Congress Members Call on Inspector General to Review CFTC Regulatory Practices

Letter mentions CFTC’s “posture concerning prediction markets” in request for investigation into the agency’s compliance and resource...

Derek Helling

June 3, 2026

illlinois state flag in and line graph in front of capitol dome

Legal News & Updates

Illinois Becomes Second US State to Enact Law Regulating Prediction Markets

Illinois’ FY2027 budget includes a requirement for prediction markets to obtain licensure from gaming regulators and taxes exchanges’...

Derek Helling

June 2, 2026

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Legal News & Updates

Tennessee Appeals District Court’s Decision to Protect Kalshi From Enforcement Actions

Sixth Circuit could be perceived as friendly venue to Tennessee’s interests and set up another avenue for the dispute over state sovereignty to elevate to the US Supreme...

Derek Helling

May 28, 2026

person looking at computer monitor showing line graph

Legal News & Updates

CFTC Sues Google Employee Over Alleged Insider Trading on Polymarket

The alleged trader used knowledge of Google’s most-searched individuals for 2025 that they had privileged access to and profited $1.2M, according to the CFTC’s complaint....

Derek Helling

May 28, 2026

justice statue and scales in front of supreme court building

Legal News & Updates

Ninth Circuit Denies Kalshi Stay in Washington Case, Setting Up Supreme Court Appeal

Kalshi could soon file a petition for review with the US Supreme Court after the Ninth Circuit declined to afford it protection from enforcement in...

Derek Helling

May 22, 2026

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