The state was the first to pass a law banning Kalshi and Polymarket. A lawsuit filed by a federal agency may set a precedent on who gets to regulate them.
The request follows conflicting lower court rulings on whether states have statutory oversight authority of the prediction firms.
Kalshi’s highest six-month lobbying total on record
$71,356 penalty
Gabriel Perez made over $100,000 on the Kalshi prediction market, per the CFTC.
WASHINGTON (AP) — A former White House teleprompter operator accused of using inside knowledge to make bets on the prediction market Kalshi has been ordered to turn over more than $100,000 in profits and pay a $65,000 fine as part of a settlement with federal authorities. The settlement with the Commodity Futures Trading Commission, announced [...]
The commission found that Gabriel Perez made $107,500 on prediction markets by betting on words and phrases that would appear in Trump’s speeches between December 2025 and February 2026.
Between December 2025 and February 2026, the CFTC said Perez earned $107,500 through prediction-market trades tied to language expected to appear in Trump’s speeches
A legal dispute over the future of Kalshi, Polymarket and others has drawn in the Trump administration, the president’s son and nearly every state attorney general.
President Trump will give remarks Wednesday afternoon from the White House on strengthening U.S. innovation and dominance in the technology sector. CEOs from several crypto companies, including Ripple and Coinbase, are expected to attend. The event is being viewed as a kickoff for the Commodity Futures Trading Commission Innovation Advisory Committee, according to reports. A [...]