Market predictions spark tribal and federal regulatory power struggle, intense confrontations at NCLGS conference.
At the NCLGS (National Council of Legislators from Gaming States) summer meeting held in Louisville in July, the discussion on the regulation of prediction markets became a focal point. Particularly, the debate over whether sports event contracts should be regulated by the Commodity Futures Trading
Decentralized prediction platform Polymarket plans to complete a $200 million financing, with its valuation soaring to $1 billion, entering the ranks of "unicorns".
According to Reuters, citing sources familiar with the matter, the decentralized prediction market platform Polymarket is close to completing a funding round of up to $200 million. Once completed, the company's valuation will reach approximately $1 billion, officially entering the "unicorn" status.T
Event-driven trading heats up, Kalshi raises $185 million with a valuation of $2 billion, Polymarket also set to complete massive fundraising.
Driven by legal developments and the market's growing interest in predictive trading, the US event contracts trading platform Kalshi announced the completion of a $185 million Series C funding round, with a post-money valuation of $2 billion. This round was led by Paradigm, with participation from S
Kalshi's valuation surpasses $2 billion, igniting a new trend in the "prediction market" with its fundraising.
The American prediction market platform Kalshi recently completed a new Series C funding round, raising a substantial $185 million, which boosted its valuation to $2 billion, making it one of the most notable "unicorns" in the field. This funding round was led by Paradigm, a venture capital firm foc
Musk Upgrades X Vision: Social Giant Transforms into Financial and Predictive Technology Platform
X (formerly known as Twitter) is gradually expanding its social media platform capabilities into the trade and investment sectors, as part of Elon Musk's vision to transform it into an "all-in-one app". Linda Yaccarino, CEO of X, stated at the Cannes Lions International Festival of Creativity that X
VanEck Solana ETF lands at DTCC, Polymarket optimistic about the approval odds of SOL and XRP ETFs soaring
The spot Solana ETF proposed by VanEck has recently been officially listed on the website of the Depository Trust & Clearing Corporation (DTCC) in the United States, which is seen as a strong signal that the U.S. Securities and Exchange Commission (SEC) is about to approve the ETF. Meanwhile, the co
Quintenz attends confirmation hearing, reaffirms strong support for predictive markets: Future regulatory direction of CFTC raises concerns
The U.S. Senate Committee on Agriculture, Nutrition, and Forestry held a highly anticipated confirmation hearing for Brian Quintenz as chairman of the Commodity Futures Trading Commission (CFTC). Although the primary responsibility of the CFTC is to regulate the derivatives market, the agency's impo
Musk's X designates Polymarket as the official prediction market partner, introducing AI and encryption technology.
Two companies jointly announced that Elon Musk's social platform X (formerly known as Twitter) has officially designated the crypto prediction platform Polymarket as its "official prediction market partner," and announced the launch of a comprehensive product that integrates real-time market data, s
Predicting Markets: The Next Generation of Legal Gambling or a New Target for Regulation?
SCCG Market Research: Financial Innovation or Disguised Gambling? Regulatory Grey Areas Spark Controversy
SCCG Research has provided its latest research excerpt, focusing on an increasingly controversial topic: Are prediction markets legitimate financial instruments, or merely a form of disguised gambling?In this gray area at the intersection of law and ethics, the ambiguity of boundaries is prompting r
The Boundaries and Future of Sports Betting Transactions: Sporttrade CEO Discusses Prediction Markets, Regulatory Games, and Tribal Roles
Alex Kane, CEO of Sporttrade, deeply explored the integration of prediction markets and sports betting from a philosophical perspective in a recent webinar, highlighting the potential strategic role of tribes in this field. He analyzed the emerging field with a gentle yet sharp perspective, noting t
American tribal law experts warn: Predicting the market poses a survival threat to indigenous gambling.
As the prediction market rapidly expands in the United States, more and more tribal law experts are issuing warnings, stating that this trend poses an unprecedented "existential threat" to the Native American gaming system.At the "New Normal" series of webinars hosted by the Indian Gaming Associatio
The rise of the U.S. prediction gambling market poses a new threat to tribal gambling industries.
In the modern economic history of the United States, Indian tribal gaming is recognized as one of the most successful economic development models on reservations. Over the past forty years, the industry has not only helped communities escape poverty but also granted Native Americans unprecedented ec
CFTC voluntarily dismisses lawsuit, election betting regulation takes a sudden turn: Prediction markets may enter a "legalization era"
The U.S. Commodity Futures Trading Commission (CFTC) this week voluntarily withdrew its appeal against the Kalshi exchange, marking an official end to its policy of cracking down on election betting. This move not only represents a significant shift in regulatory attitudes but also signals the gradu
The NBA calls on the CFTC to establish a regulatory framework for sports prediction markets, focusing on the industry's rapid growth.
The National Basketball Association (NBA) has submitted a letter to Caroline D. Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), specifically discussing the expansion of sports prediction markets.The letter outlines the potential risks to the fairness of NBA games, as these
