Utah sues Kalshi as midterm prediction markets top $1.4bn in volume
Utah has filed suit against Kalshi and two Susquehanna firms, Polymarket has sued Ohio, and trading on the midterm elections has passed $1.4bn.
Kalshi
Single-stock perpetual futures filings from Kalshi, Coinbase, Bitnomial and Nadex await CFTC review
Four CFTC-registered futures exchanges have filed rules to list perpetual futures on US stocks. None has yet been approved by the CFTC. The SEC's trading and markets director expects at least four exchanges to begin trading the products this quarter.
Kalshi seeks Sixth Circuit rehearing as gaming interests pile into the Supreme Court
Kalshi's en banc petition relies on the CFTC's 9 October rulemakings. Meanwhile, more than a dozen amicus briefs have been filed in New Jersey's certiorari bid.
CFTC lets DCMs turn 25-year 'perpetual-style' index futures into true perpetuals
Letter 26-29, issued at Coinbase Derivatives' request, waives the 10-day self-certification wait if venues protect holders of open positions.
Chicago judge finds Illinois gambling law likely pre-empted for Kalshi title-game contracts
Judge Pacold calls the contracts swaps that 'people find entertaining and fun', in a ruling that cuts against the Sixth Circuit a week earlier.
Sixth Circuit rules against Kalshi in Ohio and Tennessee
The panel says Kalshi has not shown its sports contracts are swaps, and says the CEA would not pre-empt state gambling law even if they were.