21+ Must be 21+ and physically present in a legal state. Gambling problem? Call 1-800-GAMBLER.
Independent & editorially reviewed Odds & offers updated August 28, 2026
Archive
Polymarket's regulated U.S. exchange is beta-testing parlay-style "combinatorial" contracts, months after Kalshi's combo bets surged past $13.7 billion in monthly volume.
Baltimore filed lawsuits against Kalshi and Polymarket, alleging the prediction market platforms are running unlicensed sportsbooks and disputing the CFTC's claim to exclusive regulatory authority.
Kalshi is in talks for a $40 billion valuation even as Washington, New York and other states hand the prediction market operator fresh legal setbacks over its sports contracts.
A Connecticut federal judge denied Kalshi's bid for an injunction, comparing its parlay contracts to casino gaming and dealing the prediction market operator its ninth adverse state ruling.
Peggy Flanagan's Minnesota Senate primary win over Kalshi-backed Angie Craig gives tribal gaming advocates a symbolic lift in the ongoing legal fight over prediction markets.
Circa Sports founder Derek Stevens says prediction markets like Kalshi and Polymarket are 'pirates' and 'thieves' for dodging the fees regulated sportsbooks must pay.
Nine Democratic senators are pressing the CFTC to crack down on prediction markets offering wildfire bets, warning the contracts could incentivize arson as fire season intensifies.
A gaming law expert says the 1978 Interstate Horseracing Act gives racing stronger legal protection against prediction markets like Kalshi and Polymarket than other forms of wagering.
A federal judge ruled Kalshi's sports event contracts aren't swaps under federal law, clearing a path for Connecticut regulators to enforce gambling laws against the prediction market operator.
The CFTC has warned prediction market platforms to drop American-style moneyline odds, intensifying the regulatory fight over whether these exchanges are legal sports betting operations.
The Sports Traders Union, backed partly by exchange Novig, wants a 21-plus age minimum and loss-data transparency from prediction market platforms like Kalshi.
Kalshi CEO Tarek Mansour compares the company's mounting legal battles with states to the early disruption faced by Uber and Airbnb, as New York and other states push to shut down its prediction markets.
