Finance News
By Evie Vavasseur
1 / 15
ProphetX, Kalshi, and the Federal Designation Problem. ProphetX CEO Dean Sisun has been vocal about what he sees as the core distinction: federally…
2 / 15
DraftKings, Novig, and the Blurring Lines. Here's where it gets complicated. The line between sportsbook and exchange is blurring fast — and…
3 / 15
The CFTC has a problem. It's trying to regulate prediction markets without a clear legal definition of the word "gaming," and the industry is already moving faster than the…
4 / 15
On August 20, CFTC Chairman Michael S. Selig spoke before the Innovation Advisory Committee and basically admitted the agency is working with broken tools.
5 / 15
ProphetX CEO Dean Sisun has been vocal about what he sees as the core distinction: federally designated exchanges are not sportsbooks.
6 / 15
But federal designation alone doesn't settle much, it turns out. Nevada moved to bar Kalshi from serving its residents, accusing the platform of conducting unauthorized trading…
7 / 15
The Ninth Circuit's ruling against Kalshi is probably the clearest example of how messy the federal-versus-state question has gotten.
8 / 15
Novig operates sportsbook-style products on a federally designated exchange. In its first week after launch, it hit $125 million in trading volume. That number is hard to ignore.
9 / 15
Related: Bitcoin Plummets Below $77,000 as Treasury Yields Surge to 5.353%
10 / 15
DraftKings is going a different direction. It's seeking CFTC approval for its event-contract templates, which looks like a deliberate strategy to route around state-by-state…
11 / 15
The proposed amendments are supposed to define what separates a legitimate financial product from a gambling activity.
12 / 15
Brokers and exchanges are already doing their own homework. Before touching event contracts, they're looking hard at price formation mechanics, counterparty exposure, and whether…
13 / 15
The 1,500-plus comments on the proposed rulemaking split pretty clearly between two camps: people who see prediction markets as legitimate derivatives infrastructure, and people…
14 / 15
Related: Pound Plummets to $1.2425 as U.S. Inflation Data Shocks Markets
15 / 15
Amendments to Parts 38 and 40 are meant to modernize listing rules and add retail protections. The Rule 40.11 rewrite is the piece everyone's watching most closely.
The Currency Analytics
Want the full story?