Regulations
By Evie Vavasseur
1 / 15
Blumenthal Questions CFTC Oversight. Senator Richard Blumenthal sent a letter to the CFTC on April 21, one day before Kalshi's…
2 / 15
Perpetual Futures Enter the Game. Kalshi's moving into cryptocurrency perpetual futures.
3 / 15
Kalshi kicked three congressional candidates off its platform on April 22. The reason? They bet on their own races.
4 / 15
The prediction market suspended them for five years and hit them with fines between $539.85 and $6,229.30. Kalshi called it political insider trading, plain and simple.
5 / 15
His main gripe? How does the CFTC actually resolve disputed bets on prediction markets? Blumenthal zeroed in on military action contracts, the kind Kalshi and Polymarket both run.
6 / 15
Kalshi's moving into cryptocurrency perpetual futures. Launch date looks like April 27, based on a teaser video the company put out. Details are scarce, but the shift is big.
7 / 15
New York Attorney General Letitia James filed a lawsuit against Coinbase and Gemini. Her office says their prediction market offerings are illegal gambling under state law.
8 / 15
More context: Kalshi and Polymarket Jump Into Perpetual Futures to Take On Offshore Crypto Giants
9 / 15
Kalshi's enforcement actions show the platform can regulate itself to some degree. The company identified the candidates, fined them, and banned them—all without CFTC intervention.
10 / 15
The April 30 deadline matters. The CFTC has to respond to public comments about prediction market oversight. Whatever they say could shape the industry for years.
11 / 15
Kalshi and Polymarket's pivot to perpetuals is partly about diversification. Event contracts are seasonal. Elections happen every few years.
12 / 15
The legal challenges won't disappear. New York's lawsuit against Coinbase and Gemini argues that prediction markets on U.S.
13 / 15
Blumenthal's proposed legislation could clarify some of this. The Prediction Market Security & Integrity Act would establish federal standards for platform operations,…
14 / 15
More context: Sam Bankman-Fried Drops New Trial Bid, Puts All Chips on Appeal
15 / 15
The soldier's case is going to trial. Prosecutors say he earned over $400,000 betting on events he knew would happen because of his military access.
The Currency Analytics
Want the full story?