Federal appeals court ruled CFTC has exclusive authority over prediction markets like Kalshi and Polymarket, rejecting New Jersey's attempts to ban sports bets on the platform.
Polymarket Betting on Missing Pilot Sparks Outrage
Prediction betting platform Polymarket faced criticism after posting a betting market on when a missing US fighter pilot shot down over Iran would be rescued, prompting deletion amid ethical concerns.
US CFTC sued Illinois, Arizona, and Connecticut over prediction market jurisdiction, claiming states violated federal exclusive regulatory authority by ordering platforms like Kalshi, Crypto.com, and Polymarket to cease operations.
JPMorgan: Crypto Market Structure Act likely to pass mid-year
JPMorgan predicts the Crypto Market Structure Act will likely pass by mid-2026, potentially transforming the crypto market and attracting institutional investors.