Polymarket and Kalshi, the two dominant prediction market incumbents, are working to capitalize on the NFL season and midterm elections this fall, according to CNBC. Smaller exchanges are also seeking to gain traction around the two events.

The widespread clash over whether regulation of prediction markets falls under federal or state jurisdiction is moving closer to the U.S. high court. The jurisdictional fight has been building as state regulators and federal authorities stake competing claims over which level of government should oversee event-contract platforms. A Supreme Court ruling would settle the split and define the regulatory boundary for the industry.

Prediction market platforms Kalshi and Polymarket this year began offering contracts tied to U.S. Food and Drug Administration decisions, letting users trade on pharmaceutical regulatory outcomes. The expansion into FDA decisions marks a new contract category for both platforms beyond their existing political and economic markets.

Cantor & Co. is seeking to help institutional clients move into the prediction-markets space, Brandon Lutnick said. The push follows Cantor's recent partnership with Kalshi, the regulated prediction-market exchange. The move targets growing institutional interest in event contracts as the sector expands beyond retail traders.

Kalshi plans to launch 60 perpetual futures contracts tied to individual stocks and ETFs after completing SEC registration. The proposed products would extend Kalshi's fast-growing perps business into individual stocks, where contracts fall under joint SEC-CFTC oversight.

The European Securities and Markets Authority (ESMA) said on September 11 that prediction platforms including Polymarket and Kalshi lack required authorization to offer event contracts to users in the European Union. The bloc's top markets regulator questioned whether partial geo-blocking is sufficient for compliance and noted that event contracts can qualify as financial instruments under MiFID II, triggering stricter oversight requirements.

The State of Connecticut announced a new round of cease-and-desist orders targeting what it calls illegal prediction markets offering sports wagers. The action, announced Thursday, is the latest in a series of enforcement steps by the state against operators it alleges are running unauthorized sports betting platforms.

Fanatics has integrated its FanCash loyalty currency into Fanatics Markets, its prediction markets platform, letting users earn and redeem rewards program currency on event-contract trades. Fanatics is also building a standalone prediction markets product through a partnership with Crypto.com, which will provide infrastructure for derivative trading. The product will be part of a new all-in-one betting app combining sportsbook, casino, and prediction markets.

Kalshi raised $1 billion at a $22 billion valuation, according to a Bizjournals listing of New York City venture capital activity. The item appeared alongside news that David Protein's parent company raised $250 million for food brands. No further details on the Kalshi round were provided in the listing.

Connecticut's Department of Consumer Protection (DCP) has issued cease-and-desist orders to nine prediction market and trading platforms: Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini, and Underdog Predict. The Lamont administration action, announced Thursday, directs the platforms to immediately cease and desist operations in the state. The order sweep covers both crypto-native prediction markets and traditional brokerage platforms that have recently added event-contract products.

Prediction market firms Kalshi and Robinhood are mounting dual challenges to overturn recent court rulings that threaten their sports event contracts. The two platforms are pursuing separate legal strategies rather than a coordinated approach.

The European Securities and Markets Authority (ESMA) warned that market manipulation and insider trading risks have reached new levels in the context of prediction markets. The EU watchdog flagged the risk of an abrupt market correction in a statement published Thursday.

Polymarket traders raised the probability of a Federal Reserve rate hike to 61% from 54% after August producer price index data came in hotter than expected at 5.4% year-over-year. The repricing flipped the base case for the September 16 Fed meeting.

The CFTC exercised its emergency authority following a New York lawsuit that sought to prevent KalshiEX from offering event contracts nationwide. The article is a thin snippet from Proskauer's FinReg Monthly Update and provides no further details on the timing of the emergency action, the specific legal grounds, or the current status of the case.

Prediction markets are the fastest-growing corner of American finance, with users able to bet on outcomes ranging from hurricane landfalls to election results. A new survey finds that nearly 8 in 10 prediction market users report losing money.

Prediction market Kalshi has partnered with the San Diego Padres and other MLB teams, a move that draws scrutiny because traditional sports betting remains illegal in California. The article questions whether the partnership was the right call given the state's regulatory environment.

Kalshi has acquired Oddpool, a data startup that raised $3 million, according to BettingStartups News. The deal was reported this week. No deal terms or strategic rationale were disclosed in the available report.

Polymarket has hired its first chief financial officer, Warren Jenson, as the CFTC-registered prediction market platform seeks fresh investment and rebuilds momentum against rival Kalshi. The company announced the hire this week. Jenson's appointment signals a push to professionalize finance operations and attract capital at a time when Kalshi has been expanding its market share and product offerings. Both platforms compete for share among regulated U.S. prediction market venues.

Kalshi launched 24/7 CFTC-regulated perpetual futures on gold and silver on September 10, the company announced. The contracts carry no expiration date and no rollover fees. The move expands Kalshi's offerings beyond event contracts into commodity derivatives, following its earlier entry into crypto perpetuals and its recent filing for crude oil perpetuals. Both precious metals contracts are available to U.S. retail traders under full CFTC registration.

Citadel Securities is urging the Securities and Exchange Commission (SEC) to assert oversight of event contracts tied to public companies, challenging the Commodity Futures Trading Commission's (CFTC) self-certification process for such products. The market maker wants securities regulators to retain authority over contracts tied to individual stocks and equity indexes rather than see them fall under commodity-derivatives rules. The intervention highlights jurisdictional tension between the two agencies as equity-linked prediction markets expand.