News

Kalshi, Polymarket lead NFL Week 1 prediction market trading as volume hits record

Kalshi and Polymarket opened the NFL season ahead of rival prediction market operators, with combined Week 1 NFL trading topping $1 billion and industry-wide volume reaching a reported record $15.9 billion.

Texas lawmakers question whether prediction markets are legal under state gambling rules

Texas lawmakers are weighing whether prediction markets amount to gambling, adding to a wider state-by-state fight over platforms such as Kalshi.

Federal Gambling Loss Tax Fix Advances in House Committee

A proposal to restore the full federal tax deduction for gambling losses has advanced through the House Ways and Means Committee, moving one step closer to reversing last year’s cut from 100% to 90%.

Major U.S. sports leagues seek lifetime betting bans for people who threaten athletes

Five major pro sports leagues and their players associations are urging state gambling regulators to permanently revoke betting privileges for anyone who threatens or abusively harasses athletes, coaches, officials, team personnel or their families.

Editorial warns federal backing for prediction markets could carry political risk

An editorial published Friday argues that federal support for prediction markets and other technology priorities could become a political liability, with polling cited in the piece showing many Americans view the products as closer to gambling than investing.