The Commodity Futures Trading Commission announced Friday that it has won a temporary restraining order preventing Arizona from pursuing its criminal case against Kalshi.
As prediction markets explode, the new firm called 5(c) Capital, will back startups supporting the burgeoning category.
Since FanDuel and DraftKings are subject to state-by-state gambling laws, rather than federal law, they would not be impacted by the bill.
It’s the latest escalation in a regulatory battle over the future of prediction markets.
It’s the latest salvo in an escalating battle between state regulators and an industry that claims it’s not beholden to them.
Six newly-created accounts made a profit of $1 million by correctly betting that the U.S. would strike Iran by February 28.
A tax accountant saw Elon Musk fans bidding up a Kalshi prediction market and saw a sure bet to make easy money.
Kalshi fined the MrBeast editor, Artem Kaptur, for over $20,000.