Crypto Exchanges
By Jean-Luc Maracon
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Perpetual Futures Enter the Mix. Kalshi and Polymarket, two of the biggest prediction market platforms out there, are moving into…
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Big Money Still Betting on the Space. Legal trouble hasn't scared off everyone. Major financial players like the Intercontinental…
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New York went after two big crypto names. Attorney General Letitia James filed lawsuits against Coinbase and Gemini, seeking $3.4 billion in penalties. The claim?
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The lawsuits come at a weird time for the prediction market world. Platforms that built their names on letting people bet on elections, sports outcomes, and other events are now…
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Kalshi and Polymarket, two of the biggest prediction market platforms out there, are moving into perpetual futures trading. The difference matters.
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The goal is pretty clear. Turn people who bet on the occasional big event into traders who show up every single day. More activity means more fees, more liquidity, more everything.
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The CFTC has been backing the platforms, saying it has jurisdiction over event contracts. A federal appeals court sided with the CFTC against New Jersey regulators, which gave…
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Legal trouble hasn't scared off everyone. Major financial players like the Intercontinental Exchange are putting money into prediction markets.
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Some critics think the push into perpetual futures is basically a defensive move. If prediction markets face too much heat from regulators calling them gambling operations, maybe…
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Kalshi made its intentions clear. The platform wants a piece of the perpetual futures market, which hit $61.7 trillion in trading volume last year.
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Polymarket is being quieter about its plans. The platform hasn't said much about which assets it'll focus on or how it'll handle U.S. customer access.
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Related: New York Slaps Coinbase and Gemini With Illegal Gambling Lawsuit Over Prediction Markets
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State regulators aren't backing down. They're still pushing to classify these platforms as unlicensed gambling operations, which would shut down a lot of what they do.
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The technical challenges are real too. Decentralized derivatives exchanges can add prediction markets to their existing infrastructure without much trouble.
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There's a split in the industry about what actually matters more. Some people think acquiring and keeping a broad user base is tougher than the technical side of expanding…
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