Baltimore has taken legal action against prediction market operators Kalshi and Polymarket, accusing both companies of offering illegal sports betting in the city. Mayor Brandon M. Scott and the Baltimore City Council filed separate lawsuits on August 13 in the Circuit Court. The cases allege violations of Baltimore’s Consumer Protection Ordinance and accuse the companies […]
US President Donald Trump was sued on August 12 in federal court in Manhattan over Truth API, the Truth Social feed that delivers his posts to paying subscribers for as much as $100,000 a month. Citizens for Responsibility and Ethics in Washington filed the complaint alongside Yale Law School’s Media Freedom and Information Access Clinic, […]
Fireplace, the prediction markets trading terminal that raised $1.5 million in February, told users on August 10 that it is shutting down and gave them until September 30 at 23:59 UTC to close positions, withdraw funds, and export their accounts. “We’re shutting down Fireplace,” the company posted. “To everyone who traded with us and supported […]
White House teleprompter operator Gabriel Perez is no longer employed by the federal government after being placed on unpaid leave over allegations that he used insider knowledge to bet on President Donald Trump’s speeches, according to another official. Speaking on condition of anonymity, the official said that Perez had left his government job but did […]
Robinhood posted record second-quarter net revenue of $1.31 billion, up 32% year-over-year, as activity across prediction markets, options, and equities helped offset a sharp decline in crypto income. The company’s transaction-based revenue jumped 44% to $776 million during the quarter. Event contracts emerged as one of its fastest-growing businesses. In fact, revenue from event contracts […]
Notional volume on prediction markets climbed sharply in the second quarter of 2026 and reached $113.8 billion, up 48.7% from the previous quarter. CoinGecko found that the momentum accelerated in June, when monthly notional volume surged to a record $50.7 billion, which represented a 92% increase from the average monthly volume of $27.5 billion posted […]
Coinbase CEO Brian Armstrong has said the exchange is investigating an AI-generated prediction market alert after the platform mistakenly sent users a “breaking news” notification of a supposed Norway 3-2 win against Brazil in the ongoing FIFA World Cup before the match had even kicked off at the MetLife Stadium. The flash news also showed […]
The FIFA World Cup’s round of 16 matches are set to kick off on July 4, and football, or soccer as it’s known in the United States, has become the biggest driver of activity on prediction platforms, diverting attention from the political and macroeconomic markets they were originally built around. This is according to data […]
US prosecutors have charged Google software engineer Michele Spagnuolo, also known online as ‘AlphaRaccoon,’ with allegedly using confidential internal Google search data to profit roughly $1.2 million through bets placed on prediction market platform Polymarket. According to a criminal complaint unsealed in the Southern District of New York, Spagnuolo allegedly accessed nonpublic ‘Year in Search […]
The Attorney General for New York filed a lawsuit against the prediction market arms of Coinbase and Gemini on Tuesday. The claim is that these platforms violate state laws against illegal gambling. According to the petitions filed in the state court in Manhattan, Attorney General Letitia James argues that both Gemini and Coinbase have not […]