Prediction markets have seen a surge in trading volume, with sports events driving a significant portion of the activity. The industry hit a record high in October, reaching $4.13 billion in average daily trading volume.
The National Council on Problem Gambling (NCPG) has issued a statement addressing the controversy surrounding its acceptance of a donation from Kalshi, a prediction market platform. The NCPG maintains its focus on reducing gambling-related harm, regardless of legal definitions.
The New York Mets have become the first MLB team to partner with a prediction market, Novig. The multi-year deal marks a significant move in the sports industry.
A federal judge has temporarily halted Minnesota's ban on prediction markets, siding with platforms Kalshi and Polymarket. The judge ruled that federal regulation likely preempts state gaming laws in many respects.