Senators Adam Schiff (D-CA) and John Curtis (R-UT) introduced a bill on Monday that could prevent prediction market platforms Kalshi and Polymarket from allowing users to wager money on sports events or play casino-style games. This bipartisan bill would not apply to FanDuel and DraftKings, which are subject to state-by-state …

Kalshi isn’t having a very good week. On Tuesday, the attorney general of Arizona filed a 20-count criminal complaint against the online prediction market, accusing it of running an illegal gambling business. Now, another southwestern state has taken a big swing at the company: A judge in Nevada has temporarily …

Arizona attorney general Kris Mayes has filed criminal charges against prediction market platform Kalshi for allegedly operating an illegal gambling business in the state without a license and for election wagering. The 20-count complaint, filed in Maricopa County court on Tuesday, accuses the company of engaging in unlicensed gambling activities, …

Prediction market users have made — and profited from — big bets around the bombing of Iran by the U. On Polymarket, $529 million was traded on contracts tied to the timing of the attack, according to Bloomberg. An analysis by analytics firm Bubblemaps SA found that six newly-created accounts …

An editor for YouTube’s most popular creator, MrBeast, has been accused by the predictions market Kalshi of insider trading on the platform. After an investigation, Kalshi said it “found reasonable cause” to believe that this editor, Artem Kaptur, had used non-public, insider information about MrBeast videos to inform his betting …