North Carolina budget would authorize prediction markets and tax operators’ net fees at 6% from Jan. 1 if signed, setting a state-level test for Kalshi.
The post Kalshi News: Appeal Raises New Stakes For Prediction Markets appeared on BitcoinEthereumNews.com.
Key Insights Kalshi news centered on a New York court appeal. State gambling rules gained ground against sports-event contracts. Prediction markets faced wider pressure from U.S. regulators. Kalshi news turned legal on Tuesday after the platform lost its injunction bid against New York gambling officials. The case in Manhattan tested whether sports-event contracts belonged under federal derivatives rules or state betting laws. The Kalshi news arrived as U.S. prediction markets faced legal pressure from several states. Courts had split on the same question, leaving platforms, regulators, and traders without a clear national standard. Kalshi News Appeal Follows New York Setback U.S. District Judge Analisa Torres denied Kalshi’s preliminary injunction request in the Southern District of New York. Her order found that New York gambling laws were not preempted by the Commodity Exchange
The post North Carolina Budget Puts Prediction Markets to the Test appeared on BitcoinEthereumNews.com.
North Carolina just turned the prediction market debate from internet chatter into line items. The new state budget package would authorize prediction markets and tax operators at 6% of net trading-fee revenue, with revenue kicking in Jan. 1 if the bill becomes law. That is a real policy lever, not a think piece. For Kalshi, a federally regulated event-contract exchange, this is a state-level legitimacy test. Can a budget that recognizes and taxes the business finally give onshore prediction markets a clean foothold in a Southern state? Or do unresolved questions around election markets and product scope keep the brakes on? If you are a trader, founder, or compliance lead trying to map next steps, here is the practical read on what this budget likely means, where the risk lines still sit, and how to prepare without stepping on rakes.
Aspect What to Know
Status
Budget se
The post Judge Torres Deals Major Blow to Kalshi as New York Sports Contracts Face Scrutiny appeared on BitcoinEthereumNews.com.
Key Takeaways: In New York, Judge Analisa Torres granted denial to Kalshi’s request for a preliminary injunction. The court ruled that the Commodity Exchange Act (CEA) does not preempt New York gambling laws. The decision may embolden other State challenges to sports-event contracts. Kalshi has suffered a major setback in its lawsuit against New York regulators when Judge Analisa Torres denied its request for a preliminary injunction. The ruling then lets the case proceed to settle the state’s right to regulate gambling-related functions. The ruling is drawing a lot of attention in crypto and prediction markets in light of one of Kalshi’s main claims to immunity: federal commodity law protects the platform from state gambling laws. Read More: Kalshi Adds XRP Perpetuals in the U.S. New York Wins Key Round Against Kalshi Kalshi has claimed that its sports-event
The post Kalshi loses New York court battle as Google bans prediction market extensions appeared on BitcoinEthereumNews.com.
Kalshi has lost another round in court. A federal judge has turned down the company’s request to stop New York from applying its gambling laws to the prediction markets platform. U.S. District Judge Analisa Torres in Manhattan issued the ruling on Tuesday. She said Kalshi was not entitled to a preliminary injunction. She reasoned that the federal Commodity Exchange Act does not override New York’s gambling laws when it comes to Kalshi’s sports-event contracts. Torres said New York has strong reasons for its position. She pointed to the state’s goals of stopping gambling addiction, protecting the integrity of sports, and keeping unregulated contracts from spreading. Those interests, she wrote, “heavily” outweigh Kalshi’s arguments about federal law taking priority, and about customers running into what the company called “intractable” tech problems. “Kalshi has no
Pulisic's World Cup experience highlights the unpredictability of sports, challenging the reliability of prediction markets and crypto ventures.
The post What Christian Pulisic’s World Cup frustration reveals about sports prediction markets appeared first on Crypto Briefing.
Mexico's World Cup performance highlights the growing influence of prediction markets in sports, signaling a shift from traditional fan tokens.
The post Mexico’s World Cup ninth-place finish drove $268M in Polymarket trading volume appeared first on Crypto Briefing.
The surge in prediction market activity highlights the growing mainstream acceptance of decentralized platforms for event-driven trading.
The post Keir Starmer plans bank holiday if England wins World Cup, and prediction markets are already cashing in appeared first on Crypto Briefing.
The post ESMA Says EU Retail Ban Covers Many Prediction Markets, With MiCA Awaiting the Tokenized Ones appeared on BitcoinEthereumNews.com.
Key Takeaways ESMA said event contracts that qualify as financial instruments are already barred from EU retail sale under binary-options rules. The prohibition rests on national measures in force since 2018, so no new legislation is required to apply it. Two regulatory tracks, both already in force In a public statement issued on July 3, the European Securities and Markets Authority (ESMA) set out how existing EU law applies to event contracts, the yes-or-no instruments underpinning prediction markets. Its central conclusion is that many of these contracts are not a novel product category requiring new rules, but already fall within measures on the books – a point that goes further than framing the issue as future regulatory risk. ESMA’s reasoning is that event contracts whose underlying question relates to an asset listed in Section C(4) to (10)
