Author: Davis Giangiulio
The 9th U.S. Circuit Court of Appeals rejected prediction market platforms' requests for injunctive relief against the Nevada Gaming Control Board, concluding that sports-related event contracts are not a derivative regulated by the federal government.
Bitcoin's more than 20% rally this week has sent the cryptocurrency to heights it hasn't seen since May, but traders on prediction market platform Kalshi see it ending 2026 near current levels.
Prediction market platform Kalshi in a regulatory filing on Tuesday revealed it is seeking to launch perpetual futures tied to equity indexes.
Prediction markets traders still see Paramount Skydance as likely to succeed in its bid to acquire Warner Bros. Discovery, but a battle in court with 12 state attorneys general is increasing the chances that the merger falls through.
The U.S. economy surprisingly shed jobs in July, and it's leading investors to think that an interest rate hike by the Federal Reserve in September is increasingly unlikely.