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Business
August 12, 2025
Novig’s Latest Funding Round Nets the Company $18M
Novig, a US-focused peer-to-peer sports prediction market, has announced the completion of its latest Series A funding round. The round saw participation from a variety of longtime Novig allies and netted the company some $18 million. Supporters Fueled Novig’s Future Growth Per Novig’s official announcement, the latest funding round was led by Forerunner and saw […]
Legal
August 4, 2025
Maryland Judge Denies Kalshi’s Motion for Preliminary Injunction
US District Judge Adam Abelson of Maryland rejected Kalshi’s request for a preliminary injunction against the state’s sports betting regulators in a ruling issued on Friday. Kalshi Denied Injunction in Maryland Sports Betting Case After the Maryland Lottery and Gaming Commission (MLGC) issued a formal cease-and-desist letter to Kalshi in April, the operator’s attempt to […]
Business
August 1, 2025
Robinhood’s Leaders Hail Strong Q2 Performance
Robinhood’s leaders announced that its event contracts have more than doubled in the second quarter of the year, underpinned by the rapid growth of prediction markets as a whole. Robinhood’s Growth Continued According to the company’s co-founder and chief executive, Vladimir Tenev, Robinhood experienced tremendous growth in several key areas. He elaborated that Robinhood ended […]
Legal
July 23, 2025
California Tribes Strike Against Kalshi and Robinhood
Three Native American tribes in California have joined forces against the rapidly growing prediction markets sector, launching a lawsuit against two of the most prominent operators of such products. The Tribes Are Unhappy with Kalshi and Robinhood’s Presence The Blue Lake Rancheria, the Chicken Ranch Rancheria of Me-Wuk Indians, and the Picayune Rancheria of […]
Industry
July 21, 2025
US Election Prediction Markets Expand Despite Legal and Regulatory Hurdles
American election bettors now have more options than ever, with a growing array of apps and websites offering daily opportunities to wager on the next president, and more, as the landscape for political betting continues to broaden. The latest indication of the rising interest in US election wagering, and the push by various platforms to […]
Business
June 25, 2025
Polymarket Closes in on $200M Raise as Prediction Markets Heat Up
Polymarket is nearing the finish line on a funding round that will bolster the crypto-backed prediction market with $200 million, valuing it at over $1 billion. This newest update, first reported by Bloomberg and Reuters, reportedly originates from a source with direct knowledge of the negotiations, who revealed the information on condition of anonymity. Business […]
Industry
June 24, 2025
Tribes Back Maryland’s Regulator in Its Legal Battle with Kalshi
A growing number of tribes is taking a stance in the legal battle surrounding Kalshi’s sports event contract offerings, this time in Maryland’s federal court. Several national and regional tribal organizations, representing twenty-seven federally recognized tribes, have filed an amicus brief opposing Kalshi’s court plea for a preliminary injunction against the Maryland Lottery and Gaming […]
Industry
June 24, 2025
Tribal Leaders Push Back Hard Against Kalshi
US tribal leaders remain strongly opposed to Kalshi’s sports prediction markets, refuting the platform’s assertions that it maintains constructive dialogue with tribal nations. They decried Kalshi’s attempts at communication as dismissive and disingenuous, remaining adamant that Kalshi’s offerings represent illegal gaming that threatens regulated operators and erodes tribal gaming rights. The Rift Between Kalshi and […]
Business
June 23, 2025
Railbird Enters the US Prediction Market with CFTC Approval
Startup prediction platform Railbird Exchange LLC officially received approval from the US Commodity Futures Trading Commission (CFTC) to run as a designated contract market (DCM). This development positions the company to make a dynamic entry into the expanding event-based futures trading space. However, rising backlash from the gambling sector and state regulators could dampen its […]
Industry
June 18, 2025
States, Tribes, and Industry Groups Join NJ in Legal Dispute Against Kalshi
Groups filing amicus briefs against prediction markets giant Kalshi continue to grow in number as 34 state attorneys general, several tribes, the American Gaming Association (AGA), and more side with the state of New Jersey. New Actors Join New Jersey in Legal Dispute Against Kalshi The legal dispute started when Kalshi filed a lawsuit in […]
