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Prediction-market actions.

Prediction market enforcement tracker: CFTC, state regulator, court and legislature actions on event contracts, filterable by jurisdiction, each sourced.

108 entries · latest 13 Oct 2026

Prediction Markets news →

25 jurisdictions. Cease-and-desist letters, lawsuits, rulings, injunctions, bills, laws, rules, settlements and statements. Allegations are the filer's or the regulator's, not ours. Every entry links its source.

Jurisdiction

  • Enforcement
  • Courts
  • Laws, bills and rules
  • Statements

108 of 108 actions

October 2026

  1. Tennessee

    Underdog

    Lawsuit

    Parties: Underdog, Tennessee officials

    Underdog sued Tennessee officials over an order to stop offering sports event contracts, arguing the Commodity Exchange Act gives the CFTC exclusive authority; seeks declaratory judgment and permanent injunction.

    Underdog sues Tennessee after state threatens fantasy licenseOur story →

  2. US federal (CFTC)

    CFTC

    Rule

    CFTC issued a Notice of Proposed Rulemaking on a broader definition of financial swaps; if approved, event contracts on sports and politics would be classified as swaps.

    Prediction market roundup: Volume on 2026 US midterms approaches $1 billionOur story →

September 2026

  1. Czech Republic

    Ministry of Finance of the Czech Republic

    Statement

    Parties: kalshi.com

    Ministry of Finance entered kalshi.com on its List of Unauthorised Internet Games, the public register of websites subject to blocking, under section 84a(2)(a) of the Gambling Act.

    Zverejnovane udaje ze Seznamu nepovolenych internetovych her (List of Unauthorised Internet Games)

  2. Ohio

    U.S. Court of Appeals for the Sixth Circuit

    Ruling

    Parties: KalshiEX LLC, Matthew T. Schuler, Ohio Casino Control Commission, Dave Yost

    Affirmed the Southern District of Ohio's denial of Kalshi's preliminary injunction, holding the Commodity Exchange Act neither expressly nor impliedly preempts Ohio's gambling laws.

    KalshiEX LLC v. Schuler; KalshiEX LLC v. Orgel, Nos. 26-3196/5235 (6th Cir.) opinion

  3. Tennessee

    U.S. Court of Appeals for the Sixth Circuit

    Ruling

    Parties: KalshiEX LLC, William Orgel, Mary Beth Thomas, Jonathan Thomas Skrmetti

    Vacated the Middle District of Tennessee's preliminary injunction for Kalshi and remanded, holding the Commodity Exchange Act does not preempt Tennessee's gambling laws.

    KalshiEX LLC v. Schuler; KalshiEX LLC v. Orgel, Nos. 26-3196/5235 (6th Cir.) opinion

  4. New York

    New York Attorney General

    Lawsuit

    Parties: QCX LLC d/b/a Polymarket US

    Sued Polymarket US alleging its prediction market is an illegal, unlicensed gambling operation; seeks an order stopping it, fines, forfeiture of gains and restitution.

    Attorney General James and Governor Hochul Announce Lawsuit Against Polymarket for Running Illegal Gambling Operation

  5. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    CFTC's Division of Market Oversight issued an advisory (Staff Letter 26-27) on listing 'mention market' event contracts, citing heightened manipulation risk and outlining limited circumstances for listing.

    CFTC Releases Staff Advisory on Mention Markets

  6. California

    U.S. Court of Appeals for the Ninth Circuit

    Ruling

    Parties: Blue Lake Rancheria, Chicken Ranch Rancheria of Me-Wuk Indians, Kalshi, Inc., KalshiEX, LLC, Robinhood Markets, Inc., Robinhood Derivatives, LLC

    Affirmed in part and reversed in part denial of two tribes' preliminary injunction; held tribes likely to succeed on IGRA claims over Kalshi sports event contracts on tribal lands.

    Blue Lake Rancheria v. Kalshi, Inc., No. 25-7504 (9th Cir.) opinion

  7. US federal (CFTC)

    US Court of Appeals for the Ninth Circuit

    Ruling

    Parties: Blue Lake Rancheria, Kalshi

    Ninth Circuit reversed a lower court's decision in Blue Lake Rancheria vs Kalshi, finding Kalshi's sports event contracts amount to unauthorised gaming under IGRA when accessed on tribal land.

    Prediction market roundup: Sides clash at heated legislative hearing in TexasOur story →

  8. Michigan

    Michigan Gaming Control Board

    Settlement

    Parties: Robinhood Derivatives, LLC

    Robinhood agreed, under a court-approved agreement, to stop offering new sports-related event contracts in Michigan and close out positions by October 9, pending Sixth Circuit appeals.

    Robinhood agrees to halt sports-related event contracts in Michigan amid ongoing litigation

  9. Michigan

    Ingham County Circuit Court

    Injunction

    Parties: KalshiEx, LLC

    Granted the Attorney General a preliminary injunction requiring Kalshi to geofence Michigan from its sports betting contracts; violations would carry a $500,000-per-day fine.

    AG Nessel Secures Second Order Halting Unlawful Kalshi Sports Wagers in Michigan

August 2026

  1. Nevada

    U.S. Court of Appeals for the Ninth Circuit

    Ruling

    Parties: KalshiEX, LLC, Nevada Gaming Control Board, Nevada Gaming Commission, Nevada Resort Association

    Affirmed dissolution of Kalshi's preliminary injunction as to sports event contracts, finding Kalshi unlikely to show the CEA preempts Nevada gaming law; remanded on election contracts.

    KalshiEX, LLC v. Assad, No. 25-7516 (9th Cir.) opinion

  2. US federal (CFTC)

    Commodity Futures Trading Commission

    Settlement

    Parties: Gabriel Perez

    Settled CFTC order finds Perez misappropriated nonpublic White House speech information to trade presidential mention-market contracts; $107,539.02 disgorgement, $65,000 penalty, three-year trading ban.

    CFTC Orders Gabriel Perez to Pay $172,000 for Insider Trading of Mention Market Event Contracts

  3. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 10109 (Wildfire Event Contract Prohibition Act), from Rep. Baumgartner, would amend the Commodity Exchange Act to prohibit wildfire event contracts on prediction markets.

    H.R. 10109 - Wildfire Event Contract Prohibition Act

  4. Germany

    Gemeinsame Glücksspielbehörde der Länder

    Statement

    GGL launched an FAQ on social-event bets and prediction markets, stating such bets cannot be licensed in Germany and participation from Germany is not permitted and may be punishable.

    GGL informiert über rechtliche Risiken von Gesellschaftswetten und Prognosemärkten

  5. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Division of Market Oversight advisory (Staff Letter 26-23) reminds DCMs of obligations when self-certifying market-maker and incentive programs, citing deficient filings tied to event contract products.

    CFTC Releases Advisory on Self-Certification of Incentive Programs for Prediction Markets

  6. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: KalshiEX, LLC

    CFTC exercised emergency authority after KalshiEX notified a market emergency following New York's state-court suit, ordering the exchange to keep operating under Commodity Exchange Act core principles.

    CFTC Exercises Emergency Authority to Ensure Market Stability

  7. Connecticut

    U.S. District Court for the District of Connecticut

    Injunction

    Parties: KalshiEX LLC, Bryan T. Cafferelli, Kristofer Gilman, Connecticut Department of Consumer Protection, William Tong

    Denied Kalshi's motion for a preliminary injunction that sought to bar Connecticut officials from enforcing the state's gaming regulatory scheme against its sports event contracts.

    KalshiEX LLC v. Cafferelli, No. 3:25-cv-02016 (D. Conn.) Memorandum & Order, ECF 94

  8. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    DMO and Market Participants Division letter reminds entities offering event contracts not to mislead consumers, warning that 'American' odds-format pricing is likely to mislead participants.

    CFTC Reminds Markets to Display Clear Pricing Information

July 2026

  1. New York

    New York Attorney General

    Lawsuit

    Parties: KalshiEX, LLC

    Sued Kalshi alleging its prediction market is an illegal, unlicensed gambling operation; seeks an order stopping it, fines, forfeiture of gains and restitution to users.

    Governor Hochul and Attorney General James Announce New York Has Sued Kalshi for Running Illegal Gambling Operation

  2. US federal (CFTC)

    Commodity Futures Trading Commission

    Settlement

    Parties: George Anthony Devolder Santos

    Settled CFTC order charges former Congressman Santos with manipulative trading in a State of the Union attendance contract he controlled; $17,569.98 disgorgement, $17,500 penalty, three-year ban.

    CFTC Orders George Santos to Pay $35,000 for Manipulative Trading of State-of-the-Union Event Contract

  3. Minnesota

    U.S. District Court for the District of Minnesota

    Injunction

    Parties: United States of America, Commodity Futures Trading Commission, KalshiEX LLC, QCX LLC, State of Minnesota, Keith Ellison

    Granted preliminary injunctions to the CFTC, Kalshi and Polymarket US, enjoining enforcement of Minnesota's prediction market statute, Minn. Stat. § 609.7615, against CFTC-registered DCMs.

    United States v. Minnesota; KalshiEX LLC v. Ellison; QCX LLC v. Ellison (D. Minn.) Order on Motions for Preliminary Injunction

  4. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    DMO advisory (Staff Letter 26-22) tells DCMs not to submit broad, template-style self-certifications bundling many event contract variations, and explains when related contracts may be certified as a class.

    CFTC Releases Advisory on Self-Certification of an Event Contract Series

  5. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 9856 (Prediction Markets Are Gambling Act), from Reps. Horsford and Amodei, would amend the Commodity Exchange Act to prohibit certain event contracts involving sports and casino-style games.

    H.R. 9856 - Prediction Markets Are Gambling Act

  6. Washington

    King County Superior Court

    Injunction

    Parties: KalshiEX

    Granted Washington's Attorney General a preliminary injunction, finding Kalshi likely violated the Washington Gambling Act and Consumer Protection Act; final order followed August 13.

    Judge finds Kalshi’s online gambling likely violates state law

  7. France

    Autorité nationale des jeux

    Statement

    Parties: Adventure One QSS Inc.

    ANJ president ordered French internet service providers to block Polymarket, which the regulator says promotes an unauthorised gambling offer; it cites circumvention of earlier geoblocking.

    Promotion d'une offre de jeux d'argent illégale : blocage du site Polymarket

  8. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: KalshiEX, LLC

    CFTC stayed a KalshiEX emergency rule change responding to a Michigan state court order to cancel certain Michigan residents' trades, and ordered the exchange to fulfil the open trades.

    CFTC Stays KalshiEX Rule Change and Exercises Emergency Authority to Order Fulfillment of Pending Trades

  9. Czech Republic

    Ministry of Finance of the Czech Republic

    Statement

    Parties: polymarket.com

    Ministry of Finance entered polymarket.com on its List of Unauthorised Internet Games, the public register of websites subject to blocking, under section 84a(2)(a) of the Gambling Act.

    Zverejnovane udaje ze Seznamu nepovolenych internetovych her (List of Unauthorised Internet Games)

  10. New York

    U.S. District Court for the Southern District of New York

    Injunction

    Parties: KalshiEX LLC, Robert Williams, New York State Gaming Commission

    Denied Kalshi's motion for a preliminary injunction against New York State Gaming Commission officials over enforcement of state gaming law against its sports event contracts.

    KalshiEX LLC v. Williams, No. 25 Civ. 8846 (AT) (S.D.N.Y.) Opinion and Order

  11. US federal (CFTC)

    Commodity Futures Trading Commission

    Rule

    Proposed alternate framework requiring certain fully collateralized event contracts be reported under parts 15-18 instead of certain sections of parts 38, 39, 43 and 45.

    Data Reporting Requirements for Certain Event Contracts (Proposed Rule, 2026-13239)

June 2026

  1. Michigan

    Ingham County Circuit Court

    Injunction

    Parties: KalshiEx, LLC

    Granted the Attorney General a temporary restraining order halting Kalshi from offering online sports wagers to Michigan residents, after the federal court remanded the case.

    AG Nessel Secures Order Temporarily Halting Unlawful Kalshi Michigan Operations

  2. Michigan

    U.S. District Court for the Western District of Michigan

    Ruling

    Parties: Dana Nessel, KalshiEX, LLC

    Granted the Michigan Attorney General's motion to remand her suit against Kalshi to Ingham County Circuit Court; denied her request for costs and fees.

    Nessel v. KalshiEX, LLC, No. 1:26-cv-731 (W.D. Mich.) Opinion and Order, ECF 20

  3. US federal (CFTC)

    Commodity Futures Trading Commission

    Lawsuit

    Parties: Kentucky

    CFTC sued Kentucky to block what it calls state efforts to shut down CFTC-registered contract markets, citing state-court enforcement actions and a new transaction fee on DCMs.

    CFTC Sues Kentucky to Prevent Violation of CFTC's Exclusive Jurisdiction

  4. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 9367 (Stop Lawmakers From Predicting Act), led by Rep. Steil, would restrict Members of Congress and their spouses and dependents from profiting off prediction markets.

    H.R. 9367 - Stop Lawmakers From Predicting Act

  5. France

    Gambling regulators of Belgium, France, Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland

    Statement

    Nine European gambling regulators pledged close cooperation during the 2026 World Cup and to act, where necessary, against prediction market platforms that fail to comply with local regulations.

    Déclaration de 9 régulateurs de jeux d'argent européens sur les marchés de prédiction

  6. US federal (CFTC)

    Commodity Futures Trading Commission

    Rule

    Proposed amendments specifying event contract types that may be found contrary to the public interest; adds factors, procedural changes, a 'gaming' definition and a rule on when contracts 'involve' activities.

    Prediction Markets; Public Interest Determinations (Proposed Rule, 2026-11854)

  7. New Mexico

    New Mexico Department of Justice

    Lawsuit

    Parties: Kalshi, Inc., KalshiEX LLC

    Sued Kalshi alleging it unlawfully offers online sports betting in New Mexico without a state gaming license; seeks injunctive relief to halt the operations.

    Attorney General Raúl Torrez Files Lawsuit Against Kalshi to Protect New Mexico Consumers and Preserve New Mexico Gaming Laws

May 2026

  1. Nevada

    First Judicial District Court of Nevada

    Injunction

    Parties: QCX LLC, dba Polymarket US

    Granted the Nevada Gaming Control Board's motion for a preliminary injunction against Polymarket US in the Board's state-court enforcement action.

    Nevada Gaming Control Board Provides Enforcement Litigation Update

  2. US federal (CFTC)

    Commodity Futures Trading Commission

    Lawsuit

    Parties: Michele Spagnuolo

    CFTC complaint in S.D.N.Y. alleges Google employee Spagnuolo traded Polymarket 'Year in Search' contracts using nonpublic company information, generating about $1.2 million.

    CFTC Charges Google Employee with Insider Trading in Search Result-Related Event Contracts

  3. Spain

    Ministerio de Derechos Sociales, Consumo y Agenda 2030 (DGOJ)

    Statement

    Parties: Polymarket, Kalshi

    Ministry opened sanctioning proceedings against Polymarket and Kalshi for possibly operating in Spain without authorisation and ordered their websites blocked as a precautionary measure pending resolution.

    Consumo abre expediente sancionador a las plataformas Polymarket y Kalshi y ordena el bloqueo de sus webs

  4. Minnesota

    Minnesota Legislature

    Law

    Omnibus public safety act (SF 4760, Laws 2026 ch. 97) approved by the governor, adding Minn. Stat. § 609.7615 prohibiting creating, operating or facilitating prediction markets.

    SF 4760 status / Laws 2026, chapter 97

  5. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 8838 (Congressional Prediction Market Ban Act of 2026), from Rep. Vindman, would prohibit Members of Congress from certain participation in prediction markets.

    H.R. 8838 - Congressional Prediction Market Ban Act of 2026

  6. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 8771 (Campaign Event Contract Integrity Act), from Reps. Torres and Moulton, would bar certain campaign-affiliated individuals holding material nonpublic information from trading political event contracts.

    H.R. 8771 - Campaign Event Contract Integrity Act

  7. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: KalshiEx LLC, Matthew T. Schuler

    CFTC filed an amicus brief in KalshiEx LLC v. Schuler (6th Cir. No. 26-3196) asserting exclusive jurisdiction over prediction markets, arguing an Ohio district court read its jurisdiction too narrowly.

    CFTC Reaffirms Exclusive Jurisdiction Over Prediction Markets in Sixth Circuit Amicus Brief

  8. Arizona

    U.S. District Court for the District of Arizona

    Injunction

    Parties: United States of America, Commodity Futures Trading Commission, KalshiEX LLC, Jackie Johnson, Kristin K. Mayes

    Dissolved its TRO and granted the CFTC's preliminary injunction, concluding federal law preempts Arizona gambling laws insofar as they regulate derivatives on CFTC-regulated markets.

    KalshiEX LLC v. Johnson, No. CV-26-01715-PHX-MTL (D. Ariz.) Order, ECF 96

April 2026

  1. US federal (CFTC)

    U.S. Senate

    Bill

    S. 4469 (Prediction Market Act of 2026), from Sens. McCormick and Gillibrand, would amend the Commodity Exchange Act to modify provisions relating to event contracts.

    S. 4469 - Prediction Market Act of 2026

  2. US federal (CFTC)

    U.S. Senate

    Bill

    S.Res. 708, submitted by Sen. Moreno and agreed to, amends Senate rule XXXVII to prohibit Senators from trading on prediction markets.

    S.Res. 708 - Amending rule XXXVII of the Standing Rules of the Senate to prohibit Senators from trading on prediction markets

  3. US federal (CFTC)

    Commodity Futures Trading Commission

    Lawsuit

    Parties: Wisconsin

    CFTC sued Wisconsin after the state's civil suits against Kalshi, Polymarket, Crypto.com, Robinhood and Coinbase, seeking injunctive and declaratory relief to assert its exclusive jurisdiction.

    CFTC Sues Wisconsin to Reaffirm its Exclusive Jurisdiction Over Prediction Markets

  4. US federal (CFTC)

    Commodity Futures Trading Commission

    Lawsuit

    Parties: State of New York

    CFTC sued New York in S.D.N.Y. seeking a declaration of exclusive federal authority over event contracts and an injunction against enforcing state gambling laws on its registrants.

    CFTC Sues New York Over Prediction Markets Amid Ongoing Efforts to Preserve Jurisdiction

  5. Brazil

    Conselho Monetário Nacional

    Rule

    CMN Resolution 5.298 bans offering and trading in Brazil of derivatives tied to sports, online-game, political, electoral, social, cultural or entertainment events, including foreign-traded derivatives; effective May 4, 2026.

    Resolução CMN n° 5.298 de 24/4/2026

  6. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: Commonwealth of Massachusetts, KalshiEx LLC

    CFTC filed an amicus brief in Commonwealth of Massachusetts v. KalshiEx LLC asserting exclusive federal jurisdiction over event contract markets and arguing the Commodity Exchange Act preempts state laws.

    CFTC Reaffirms Exclusive Jurisdiction Over Prediction Markets in Massachusetts Supreme Judicial Court Filing

  7. US federal (CFTC)

    Commodity Futures Trading Commission

    Lawsuit

    Parties: Gannon Ken Van Dyke

    CFTC complaint in S.D.N.Y. alleges Army service member Van Dyke used classified information on the Maduro operation to trade Polymarket event contracts; first CFTC event-contract insider trading charge.

    CFTC Charges U.S. Service Member with Insider Trading in Nicolas Maduro-Related Event Contracts

  8. Wisconsin

    Wisconsin Department of Justice

    Lawsuit

    Parties: Kalshi, Robinhood, Coinbase, Polymarket, Crypto.com

    Sued Kalshi, Robinhood, Coinbase, Polymarket, Crypto.com and affiliates in Dane County, alleging sports event contracts facilitate illegal sports betting; seeks declaratory relief and injunctions.

    Wisconsin DOJ Sues To Stop Alleged Illegal Sports Betting Operations in Wisconsin

  9. Brazil

    Secretaria de Prêmios e Apostas, Ministério da Fazenda

    Statement

    Parties: Kalshi, Polymarket, Hedgehog

    SPA technical note concludes prediction market platforms offering sports and other non-financial event contracts illicitly exploit fixed-odds betting and recommends blocking Brazilian access.

    Nota Técnica SEI nº 2958/2026/MF - Exploração ilegal de apostas de quota fixa por fornecedores dos denominados Mercados de Previsão

  10. Ohio

    Ohio Casino Control Commission

    Statement

    Parties: KalshiEX LLC

    Issued a notice of intent to impose a $5,000,000 fine or civil penalty on Kalshi for operating unlicensed sports gaming in Ohio, with opportunity for hearing.

    OCCC Notice of Intent to Impose a Penalty or Fine (Case No. 2026-SGR-001)

  11. US federal (CFTC)

    Commodity Futures Trading Commission

    Lawsuit

    Parties: Arizona

    CFTC moved in the District of Arizona for a temporary restraining order and preliminary injunction to halt Arizona applying state criminal and gambling laws against CFTC-regulated prediction markets.

    CFTC Seeks to Enjoin Arizona Criminal and Civil Enforcement Against Prediction Markets

  12. Arizona

    U.S. District Court for the District of Arizona

    Injunction

    Parties: KalshiEX LLC, Jackie Johnson

    Denied Kalshi's motions for a preliminary injunction and TRO against Arizona officials, holding the Anti-Injunction Act barred enjoining the pending state criminal proceedings.

    KalshiEX LLC v. Johnson, No. CV-26-01715-PHX-MTL (D. Ariz.) Order, ECF 51

  13. New Jersey

    U.S. Court of Appeals for the Third Circuit

    Ruling

    Parties: KalshiEX, LLC, Mary Jo Flaherty, Matthew J. Platkin

    Affirmed the District of New Jersey's preliminary injunction for Kalshi, holding Kalshi showed a reasonable chance of success that the Commodity Exchange Act preempts state law.

    KalshiEX, LLC v. Flaherty, No. 25-1922 (3d Cir.) precedential opinion

  14. Nevada

    First Judicial District Court of Nevada

    Injunction

    Parties: KalshiEX LLC

    State court enjoined Kalshi from offering prohibited event contracts in Nevada in the Gaming Control Board's enforcement action, per the Board's timeline.

    Timeline of Nevada Gaming Control Board (NGCB) Actions Against Prediction Markets

  15. US federal (CFTC)

    Commodity Futures Trading Commission

    Lawsuit

    Parties: Arizona, Connecticut, Illinois

    CFTC filed lawsuits challenging Arizona, Connecticut and Illinois actions against CFTC-registered designated contract markets, asserting exclusive jurisdiction over event contracts under the Commodity Exchange Act.

    CFTC Sues Trio of States to Reaffirm its Exclusive Jurisdiction Over Prediction Markets

March 2026

  1. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 8148 (Prediction Market RISK Act), from Rep. Moulton, would reaffirm the CFTC's authority to enforce prohibited activity on prediction markets.

    H.R. 8148 - Prediction Market Restrictions on Insider Speculation and Knowledge-Trading Act

  2. Washington

    Washington Attorney General

    Lawsuit

    Parties: Kalshi

    Sued Kalshi alleging its prediction market violates the Washington Gambling Act and Consumer Protection Act; seeks to halt activities, recover losses and assess civil penalties.

    Washington sues online betting platform Kalshi for illegal gambling

  3. US federal (CFTC)

    U.S. Senate

    Bill

    S. 4226 (STOP Corrupt Bets Act of 2026), led by Sen. Merkley, would amend the Commodity Exchange Act to prohibit certain event contracts on prediction markets.

    S. 4226 - Stop Trading On Predictions and Corrupt Bets Act of 2026

  4. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 8076 (PREDICT Act), from Rep. Budzinski, would amend chapter 131 of title 5, U.S. Code, to prohibit covered individuals from trading on prediction markets.

    H.R. 8076 - PREDICT Act

  5. US federal (CFTC)

    U.S. Senate

    Bill

    S. 4188 (Public Integrity in Financial Prediction Markets Act of 2026), from Sens. Slotkin, Young, Schiff and Curtis, would bar covered individuals from covered prediction market transactions.

    S. 4188 - Public Integrity in Financial Prediction Markets Act of 2026

  6. US federal (CFTC)

    U.S. Senate

    Bill

    S. 4160 (Prediction Markets Are Gambling Act), from Sens. Schiff, Curtis and Cortez Masto, would amend the Commodity Exchange Act to prohibit certain sports and casino-style event contracts.

    S. 4160 - Prediction Markets Are Gambling Act

  7. Nevada

    First Judicial District Court of Nevada

    Injunction

    Parties: KALSHIEX LLC

    Entered a temporary restraining order for the Nevada Gaming Control Board prohibiting Kalshi from offering sports, election and entertainment event contracts in Nevada.

    Nevada Gaming Control Board Granted TRO Against Kalshi

  8. Arizona

    Arizona Attorney General

    Lawsuit

    Parties: KalshiEx LLC, Kalshi Trading LLC

    Filed a 20-count criminal information charging Kalshi entities with operating an unlicensed gambling business and election wagering in Arizona.

    Attorney General Mayes Charges Kalshi With Illegal Gambling Operation, Election Wagering in Arizona

  9. US federal (CFTC)

    Commodity Futures Trading Commission

    Rule

    Advance notice of proposed rulemaking seeking comment on core principles and regulations applying to prediction markets, event contracts that may be contrary to the public interest, and cost-benefit issues.

    Prediction Markets (Advance Notice of Proposed Rulemaking, 2026-05105)

  10. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    DMO advisory (Staff Letter 26-08) reminds DCMs of obligations when listing event contracts, including Core Principle 3 and product submission rules, with points specific to sports-related contracts.

    CFTC Staff Issues Prediction Markets Advisory

  11. US federal (CFTC)

    U.S. Senate

    Bill

    S. 4060 (Prediction Markets Security and Integrity Act of 2026), from Sens. Blumenthal and Kim, would set national safeguards for online prediction markets and return oversight to States.

    S. 4060 - Prediction Markets Security and Integrity Act of 2026

  12. Ohio

    U.S. District Court for the Southern District of Ohio

    Injunction

    Parties: KalshiEX, LLC, Matthew T. Schuler, Ohio Casino Control Commission

    Denied Kalshi's motion for a preliminary injunction against Ohio Casino Control Commission officials over enforcement of Ohio law against its sports event contracts.

    KalshiEX, LLC v. Schuler, No. 2:25-cv-1165 (S.D. Ohio) Opinion and Order, ECF 69

  13. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 7840 (Event Contract Enforcement Act) would bar event contracts on terrorism, assassination, war, gaming, illegal activity, elections or government activities; States could opt out of gaming ban.

    H.R. 7840 - Event Contract Enforcement Act

  14. US federal (CFTC)

    U.S. Senate

    Bill

    S. 4017 (End Prediction Market Corruption Act), led by Sen. Merkley, would amend the Commodity Exchange Act to ban certain Government officials from trading event contracts.

    S. 4017 - End Prediction Market Corruption Act

  15. Michigan

    Michigan Attorney General

    Lawsuit

    Parties: KalshiEx, LLC

    Sued Kalshi in Ingham County Circuit Court alleging violations of Michigan's Lawful Sports Betting Act; seeks abatement and injunctive relief against unlicensed online sports wagers.

    AG Nessel Files Lawsuit Against Kalshi for Allegedly Violating the Michigan Lawful Sports Betting Act

February 2026

  1. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: KalshiEX

    Enforcement Division advisory, citing two Kalshi disciplinary cases, states the Commission has full authority to police insider trading, manipulation and other illegal trading practices on prediction markets.

    CFTC Enforcement Division Issues Prediction Markets Advisory

  2. France

    Autorité nationale des jeux

    Statement

    Parties: Polymarket, Kalshi

    ANJ stated prediction market sites are not authorised in France and are considered illegal gambling sites, noting major operators geoblocked France at its request, and warned users of risks.

    Plateformes de marchés de prédiction : des sites illégaux en France qui peuvent présenter des risques pour les utilisateurs

  3. Tennessee

    U.S. District Court for the Middle District of Tennessee

    Injunction

    Parties: KalshiEX LLC, William Orgel, Mary Beth Thomas, Jonathan Skrmetti, Tennessee Sports Wagering Council

    Granted Kalshi a preliminary injunction against Tennessee state officials and denied it as to the Sports Wagering Council, which was dismissed; $500,000 bond required.

    KalshiEX LLC v. Orgel, No. 3:26-cv-00034 (M.D. Tenn.) Memorandum, ECF 48

  4. Nevada

    Nevada Gaming Control Board

    Lawsuit

    Parties: Kalshi

    Filed a civil enforcement action in Carson City district court seeking a declaration and injunction to stop Kalshi from offering unlicensed wagering in Nevada.

    Nevada Gaming Control Board Files Civil Enforcement Action Against Kalshi

  5. Nevada

    U.S. District Court for the District of Nevada

    Injunction

    Parties: Coinbase Financial Markets, Inc., Aaron D. Ford, Mike Dreitzer

    Denied Coinbase's emergency motion for a temporary restraining order and preliminary injunction against Nevada officials and dismissed its complaint.

    Coinbase Financial Markets, Inc. v. Ford, No. 2:26-cv-00256 (D. Nev.) Order, ECF 24

  6. US federal (CFTC)

    Commodity Futures Trading Commission

    Rule

    CFTC formally withdrew its June 2024 'Event Contracts' proposed rule and does not intend to finalize it; any future action would come through new proposed rules.

    Event Contracts; Withdrawal of Proposed Regulatory Action (2026-02454)

  7. Great Britain

    Gambling Commission

    Statement

    Gambling Commission blog says prediction market products would appear to fall within the 'betting intermediary' definition and unlicensed operators should not target or transact with GB consumers.

    Prediction markets - here's what you need to know

  8. Nevada

    Nevada Gaming Control Board

    Lawsuit

    Parties: Coinbase

    Filed a state-court enforcement action against Coinbase over event contracts; the court issued a TRO February 5 and an injunction March 26, per the Board's timeline.

    Timeline of Nevada Gaming Control Board (NGCB) Actions Against Prediction Markets

January 2026

  1. Nevada

    First Judicial District Court of Nevada

    Injunction

    Parties: Polymarket

    State court issued a temporary restraining order barring Polymarket from offering prohibited event contracts in Nevada, in the Gaming Control Board's enforcement action.

    Timeline of Nevada Gaming Control Board (NGCB) Actions Against Prediction Markets

  2. Netherlands

    Kansspelautoriteit

    Cease-and-desist

    Parties: Adventure One QSS Inc.

    KSA imposed an order subject to penalty requiring Adventure One QSS Inc. to stop offering unlicensed games of chance via polymarket.com within four weeks; €420,000 per week, max €840,000.

    Besluit last onder dwangsom Adventure One QSS Inc. (polymarket.com)

  3. Massachusetts

    Suffolk Superior Court

    Injunction

    Parties: KalshiEX, LLC

    Preliminary injunction allowed to take effect barring Kalshi from accepting Massachusetts sports wagers until it complies with state law; Kalshi's motion to dismiss denied, per the AG.

    AG Campbell Secures Court Order That Will Block Kalshi from Offering Unlawful Sports Wagers in Massachusetts

  4. Portugal

    Serviço de Regulação e Inspeção de Jogos

    Statement

    Parties: Polymarket

    SRIJ ordered Polymarket's site blocked in Portugal, deeming it illegal for lacking a licence; Vodafone, MEO and NOS later confirmed blocking following the SRIJ order, ECO reported.

    Regulador declara Polymarket ilegal mas site de apostas mantém-se acessível a apostadores nacionais (ECO)

  5. Nevada

    Nevada Gaming Control Board

    Lawsuit

    Parties: Blockratize, Inc. d/b/a Polymarket, QCX LLC d/b/a Polymarket US, Adventure One QSS, Inc. d/b/a Polymarket

    Filed a civil enforcement action in Carson City district court seeking a declaration and injunction to stop Polymarket from offering unlicensed wagering in Nevada.

    Nevada Gaming Control Board Files Civil Enforcement Action Against Polymarket

  6. US federal (CFTC)

    U.S. House of Representatives

    Bill

    H.R. 7004 (Public Integrity in Financial Prediction Markets Act of 2026), from Rep. Torres and 32 co-sponsors, would bar covered individuals from covered prediction market transactions.

    H.R. 7004 - Public Integrity in Financial Prediction Markets Act of 2026

  7. Tennessee

    Tennessee Sports Wagering Council

    Cease-and-desist

    Parties: KalshiEX LLC

    Sent Kalshi a cease-and-desist letter demanding it stop offering sports event contracts in Tennessee, void contracts and refund deposits, threatening fines, injunctions and criminal referral.

    KalshiEX LLC v. Orgel, No. 3:26-cv-00034 (M.D. Tenn.) Memorandum, ECF 48 (describing the letter)

  8. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: Bitnomial Exchange, LLC, Bitnomial Clearinghouse, LLC

    DMO and Division of Clearing and Risk granted no-action relief (Staff Letter 26-01) from certain swap data reporting and recordkeeping rules for event contracts on Bitnomial Exchange.

    CFTC Staff Issues No-Action Letter Regarding Event Contracts

December 2025

  1. Connecticut

    Connecticut Department of Consumer Protection

    Cease-and-desist

    Parties: KalshiEX LLC

    Ordered Kalshi to immediately cease and desist advertising and offering its sports event contracts to Connecticut residents, citing state gambling statutes and CUTPA.

    DCP cease-and-desist letter to KalshiEX LLC, Case No. 2025-77 (ECF 1-1, D. Conn. 3:25-cv-02016)

November 2025

  1. Nevada

    U.S. District Court for the District of Nevada

    Injunction

    Parties: Robinhood Derivatives, LLC, Mike Dreitzer

    Denied Robinhood Derivatives' motion for a temporary restraining order against Nevada gaming regulators over sports-related event contracts traded on Kalshi's exchange.

    Robinhood Derivatives, LLC v. Dreitzer, No. 2:25-cv-01541 (D. Nev.) Order, ECF 90

  2. Nevada

    U.S. District Court for the District of Nevada

    Injunction

    Parties: KalshiEX, LLC, Kirk D. Hendrick, Nevada Gaming Control Board, Nevada Gaming Commission

    Granted Nevada regulators' motion to dissolve Kalshi's April 2025 preliminary injunction, rejecting Kalshi's argument that the CEA bars state regulation of its sports contracts.

    KalshiEX, LLC v. Hendrick, No. 2:25-cv-00575 (D. Nev.) Order Granting Motion to Dissolve Preliminary Injunction, ECF 237

October 2025

  1. Massachusetts

    U.S. District Court for the District of Massachusetts

    Ruling

    Parties: Commonwealth of Massachusetts, KalshiEX LLC

    Granted the Commonwealth's motion to remand its enforcement action against Kalshi to Massachusetts Superior Court for Suffolk County.

    Commonwealth of Massachusetts v. KalshiEX LLC, No. 1:25-cv-12595 (D. Mass.) Order of Remand, ECF 35

  2. New York

    New York State Gaming Commission

    Cease-and-desist

    Parties: KalshiEX LLC

    Directed Kalshi to cease and desist operating, advertising or making available an unlicensed mobile sports wagering platform in New York.

    KalshiEX LLC v. Williams, No. 25 Civ. 8846 (AT) (S.D.N.Y.) Opinion and Order (describing the letter)

  3. Nevada

    U.S. District Court for the District of Nevada

    Injunction

    Parties: North American Derivatives Exchange, Inc. d/b/a Crypto.com, Nevada Gaming Control Board

    Denied Crypto.com's (North American Derivatives Exchange) motion for a preliminary injunction against Nevada gaming regulators and its motion for judgment on the pleadings.

    North American Derivatives Exchange, Inc. v. Nevada, No. 2:25-cv-00978 (D. Nev.) Order, ECF 105

September 2025

  1. Massachusetts

    Massachusetts Attorney General

    Lawsuit

    Parties: KalshiEX LLC

    Sued Kalshi in Suffolk Superior Court alleging it promotes and accepts online sports wagers from Massachusetts customers without a Massachusetts Gaming Commission license.

    AG Campbell Sues Online Prediction Market for Illegal and Unsafe Sports Wagering Operations

  2. Germany

    Gemeinsame Glücksspielbehörde der Länder

    Statement

    Parties: Polymarket

    GGL warned against participating in 'Gesellschaftswetten' (social-event bets) such as those offered on Polymarket, saying they cannot be licensed under the 2021 State Treaty on Gambling and are illegal.

    GGL warnt vor Teilnahme an illegalen Gesellschaftswetten

  3. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: QCX LLC, QC Clearing LLC

    CFTC staff no-action letter (25-28) relieves QCX LLC and QC Clearing LLC from certain swap data reporting and recordkeeping requirements for event contracts.

    CFTC Staff Issues No-Action Letter Regarding Event Contracts

August 2025

  1. Australia

    Australian Communications and Media Authority

    Statement

    Parties: Polymarket

    ACMA asked Australian internet service providers to block more illegal online gambling sites, including Polymarket, after investigations found breaches of the Interactive Gambling Act 2001.

    Latest illegal online gambling websites blocked

  2. US federal (CFTC)

    Commodity Futures Trading Commission

    Statement

    Parties: Railbird Exchange, LLC, QC Clearing LLC

    CFTC staff no-action letter (25-26) relieves Railbird Exchange and QC Clearing from certain swap data reporting and recordkeeping requirements for event contracts.

    CFTC Staff Issues No-Action Letter Regarding Event Contracts

  3. Maryland

    U.S. District Court for the District of Maryland

    Injunction

    Parties: KalshiEX LLC, John A. Martin, Maryland Lottery and Gaming Control Commission

    Denied Kalshi's motion for a temporary restraining order and/or preliminary injunction against Maryland gaming regulators over its sports-event contracts.

    KalshiEX LLC v. Martin, No. 25-cv-1283-ABA (D. Md.) Order, ECF 71

May 2025

  1. Nevada

    Nevada Gaming Control Board

    Cease-and-desist

    Parties: Crypto.com

    Issued a cease-and-desist letter to Crypto.com over sports event contracts, per the Board's timeline; Crypto.com sued in federal court in June 2025.

    Timeline of Nevada Gaming Control Board (NGCB) Actions Against Prediction Markets

  2. Nevada

    Nevada Gaming Control Board

    Statement

    Parties: Robinhood

    Sent Robinhood a letter warning it not to start offering sports event contracts in Nevada, per the Board's timeline.

    Timeline of Nevada Gaming Control Board (NGCB) Actions Against Prediction Markets

April 2025

  1. New Jersey

    U.S. District Court for the District of New Jersey

    Injunction

    Parties: KalshiEX LLC, Mary Jo Flaherty, New Jersey Division of Gaming Enforcement, New Jersey Casino Control Commission, Matthew J. Platkin

    Granted Kalshi's motion for a preliminary injunction, enjoining New Jersey gaming officials from pursuing civil or criminal enforcement over its sports-related event contracts.

    KalshiEX LLC v. Flaherty, No. 25-cv-02152 (D.N.J.) Order, ECF 22

  2. Nevada

    U.S. District Court for the District of Nevada

    Injunction

    Parties: KalshiEX, LLC, Kirk D. Hendrick, Nevada Gaming Control Board, Nevada Gaming Commission

    Granted Kalshi a preliminary injunction barring Nevada gaming regulators from enforcing state law against it for offering event contracts on a CFTC-designated market.

    KalshiEX, LLC v. Hendrick, No. 2:25-cv-00575 (D. Nev.) Order, ECF 45

  3. Maryland

    Maryland Lottery and Gaming Control Commission

    Cease-and-desist

    Parties: KalshiEX LLC

    Sent Kalshi a cease-and-desist letter directing it to immediately stop offering its sports event contracts and similar products in Maryland.

    KalshiEX LLC v. Martin, No. 25-cv-1283-ABA (D. Md.) Memorandum Opinion, ECF 70 (describing the letter)

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