Kalshi, Polymarket and the event-contract industry: the rulings, launches, deals and odds moves that matter to traders, reported every day.
The agency says sports event contracts are swaps and sportsbook bets are not. Lawyers doubt that alone will settle Kalshi's fight with the states.
Kalshi and other event-contract platforms can't target Google ads at Connecticut, Michigan, Nevada, New York or Ohio residents.
Sixty percent of US adults oppose election betting, with majorities in both parties, weeks before the midterms put election contracts to the test.
Underdog is the latest exchange to challenge a state ban on sports event contracts, weeks after the Sixth Circuit sided with Tennessee against Kalshi.
Kalshi took $737 million in sports contract fees last quarter, more than BetMGM's sports revenue. BetMGM's CEO expects the court to side with the states.
