Prediction markets and event contracts platform that raised a $200M Series F extension at a prior $22B valuation.
“New York sued Kalshi, alleging its prediction markets amount to unlicensed gambling and expose under-21 users to betting, while the CFTC filed an emergency motion arguing that federal law gives it exclusive authority over the platform.”
“If the CFTC prevails, it could preempt a wave of state-level restrictions on prediction markets — potentially unlocking the category for broader financial product development under a more permissive federal framework.”
“Kalshi and Polymarket now let users bet on whether the FDA will approve specific drugs, while Kalshi is also preparing markets tied to clinical-trial outcomes, prompting warnings about insider trading, distorted research incentives, and eroding trust in medical studies.”
AI-extracted from podcast / newsletter / paper summaries. May contain errors.