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Prediction markets legal battle

Kalshi and Polymarket face mounting legal and regulatory scrutiny as courts and Congress simultaneously wrestle with whether sports event contracts constitute illegal gambling.

2 entriesTue, Jul 21 – Wed, Jul 22Perp DEX

Timeline

  1. Wed, Jul 22Latest

    House Panel Weighs Federal Rules for Kalshi and Polymarket Sports Betting

    A House panel is reviewing proposed federal rules governing Kalshi and Polymarket sports prediction markets, adding a congressional legislative track to the Washington State preliminary injunction against Kalshi issued in the prior period. Kalshi separately announced it will appeal the state court ruling and filed with regulators seeking approval for gold, silver, and platinum perpetual contracts.

  2. Tue, Jul 21

    Washington State Judge Issues Preliminary Injunction Against Kalshi as Illegal Gambling

    A Washington State judge issued a preliminary injunction against Kalshi, ruling that the prediction market platform constitutes illegal gambling under state law. The injunction establishes a judicial precedent relevant to on-chain prediction and event derivatives platforms including Hyperliquid's newly announced prediction market product.