Kalshi | Crypto

US Federal Judge Aleta Trauger granted Kalshi a preliminary injunction against Tennessee, finding its sports event contracts fall under CFTC jurisdiction. A US federal judge in Tennessee temporarily blocked the state from enforcing its gambling laws against prediction markets operator Kalshi’s sports event contracts.  The ruling, issued by Judge Aleta Trauger of the US District Court for the Middle District of Tennessee on Thursday, allows Kalshi to continue offering sports-related event contracts to users in the state while its lawsuit against Tennessee regulators proceeds. Trauger found that Kalshi is likely to succeed on the merits of its claim that federal commodities law preempts Tennessee’s attempt to regulate its sports markets as illegal gambling.  Read more

Kalshi is looking to have Nevada’s lawsuit heard in federal court, again asserting it is subject only to federal commodity exchange laws. The US state of Nevada has sued Kalshi after the prediction market company lost its court challenge to stop the state’s regulator from taking action over its sports prediction markets. The US Court of Appeals for the Ninth Circuit on Tuesday denied Kalshi’s bid to stop Nevada’s gaming regulator from taking action on its sports event contracts, removing a block on the regulator launching a civil suit against the company. After the decision, the Nevada Gaming Control Board promptly filed a civil enforcement action in state court against Kalshi, which it said sought to block the company “from offering unlicensed wagering in violation of Nevada law.” Read more

Jump is set to take a fixed amount of equity in prediction market Kalshi, while its stake in Polymarket will grow over time depending on the trading capacity that the firm provides.

Global trading firm Jump will score stakes in prediction market platforms Kalshi and Polymarket for its market-making services, per a report.

Wall Street–style liquidity is reportedly moving into prediction markets, signaling a shift toward deeper markets, higher volumes and greater institutional participation. Jump Trading, a Chicago-based quantitative trading company, is reportedly set to acquire minority stakes in prediction market platforms Polymarket and Kalshi, underscoring growing institutional interest in the rapidly expanding sector. The equity stakes would be obtained in exchange for providing trading liquidity on both platforms, Bloomberg reported Monday, citing people familiar with the discussions. While the report did not disclose specific ownership percentages, Bloomberg said Jump’s stake in Polymarket would scale based on the liquidity the company ultimately provides. Read more

Kalshi has seen nearly $170 million in Super Bowl-related bets, and its move to boost oversight comes amid scrutiny of prediction markets by regulators and Congress. Kalshi says it’s expanding its surveillance on its prediction markets platform through an independent advisory committee and partnerships to detect insider trading and market manipulation, just days ahead of the Super Bowl. Kalshi said on Thursday that the committee would give a quarterly rundown to the company’s outside counsel and publish statistics on investigations into suspicious activity on the platform.  It is also teaming up with crypto trading surveillance platform Solidus Labs and Daniel Taylor, director of the Wharton Forensic Analytics Lab, “to detect, investigate, and address market abuse.” Read more

More than a month after announcing plans to move deeper into prediction markets, Coinbase said it would launch its offering for ”sports, politics, culture and more.” Cryptocurrency exchange Coinbase announced the rollout of prediction markets offering in all 50 US states in partnership with Kalshi. In a Wednesday X post, Coinbase said it was offering trades on “any real-world outcomes across sports, politics, culture and more” following the launch of prediction markets. The announcement followed the exchange’s plans for onchain prediction markets in partnership with Kalshi in December.  Event contracts on prediction market platforms such as Kalshi and Polymarket allow users to bet on the outcomes of a variety of topics, from sporting events to US politics, with the probability of each event assigned by user participation. The launch came about a week ahead of one of the biggest sporting events in the US, the National Football League’s Super Bowl championship game.  Read more

The predictions market platform announced two new hires related to state policy efforts and relations with the federal government. Predictions market platform Kalshi said it will open an office in Washington, D.C., and hire “talent from both sides of the aisle” as part of the company’s efforts to expand its US footprint. In a Monday notice, Kalshi said it had hired former Biden administration official John Bivona as the prediction market’s head of federal government relations, and Blake Bee, a former Amazon senior manager of state and local public policy. The move came as many bets on prediction markets such as Kalshi and Polymarket are under scrutiny by US federal lawmakers and state officials. Read more

The prediction market platform Kalshi will be preliminarily ordered by a superior court justice in Massachusetts to halt its online sports business there.

The preliminary injunction against the prediction markets platform reportedly came at the request of Massachusetts Attorney General Andrea Joy Campbell. Prediction markets platform Kalshi could face legal complications operating in the US state of Massachusetts after a judge reportedly ruled that residents could not use the website for sports betting. According to a Tuesday Reuters report, Suffolk County Superior Court Judge Christopher Barry-Smith said he would issue a preliminary injunction against Kalshi prohibiting the platform from offering sports betting for residents without the required gaming license.  The ruling followed Massachusetts Attorney General Andrea Joy Campbell filing a lawsuit against Kalshi in September, alleging that the platform offered “illegal and unsafe sports wagering.” According to Reuters, Tuesday’s injunction came at Campbell’s request. Read more

On Jan. 9, Tennessee’s sports betting regulator sent a set of letters that, at first glance, looked like the kind of paperwork most crypto natives scroll past. The message was blunt: stop offering sports-related event contracts to Tennessee residents, void unsettled positions, and refund customers by Jan. 31. The recipients, Kalshi, Polymarket, and Crypto.com, sit […] The post Kalshi and Polymarket face a “sports gambling” probe that could void your trades and shut down the market appeared first on CryptoSlate.

Tennessee regulator warned that failure to comply could trigger steep fines, court injunctions and potential law enforcement referrals for for further investigation. Tennessee’s sports betting regulator has ordered prediction market platforms Kalshi, Polymarket and Crypto.com to halt the offering of sports event contracts to residents of the state. In cease-and-desist letters dated Friday, the Tennessee Sports Wagering Council (SWC) accused all three platforms of illegally offering sports wagering products without holding a license issued under the Tennessee Sports Gaming Act, according to copies of the letters published on X by sports betting attorney Daniel Wallach. The SWC said the sports event contracts listed on Kalshi, Polymarket and Crypto.com’s North American Derivatives Exchange allow users to wager money on the outcome of sporting events, a practice Tennessee law reserves exclusively for licensed sportsbooks. The regulator argued that packaging the products as “event contracts” does not exempt them ...

The wallet-native feature lets users trade tokenized event contracts across politics, economics and culture without leaving Phantom. Crypto wallet application Phantom has partnered with regulated prediction market Kalshi to bring event-based trading directly into its wallet interface, signaling a deeper convergence between onchain finance and real-world outcome betting.  The companies said on Friday that the integration would allow Phantom users to discover trending events, track live odds and place bets without leaving their wallets.  A new feature called Phantom Prediction Markets will allow users to trade tokenized positions that reference Kalshi’s event markets across politics, economics, sports and culture.  Read more

XRP traders are eyeing a rally, Kalshi taps Solana, Peter Schiff fails to authenticate gold bar during onstage test with CZ: Hodler’s Digest Two long-dormant Casascius coins each backed by 1,000 Bitcoin have just been activated as of Friday, unlocking more than $179 million stashed away for more than 13 years.  Onchain data indicates that one of the Casascius coins was minted in October 2012, when Bitcoin was trading for $11.69.  The other was minted earlier in December 2011, when Bitcoin was valued at only $3.88, giving that Casascius coin a theoretical return of about 2.3 million percent, not including the cost of minting.  Read more

Kalshi will provide real-time prediction data across CNBC’s TV, digital and subscription platforms beginning in 2026 as part of a mult-year partnership. CNBC has entered a multi-year partnership with prediction market operator Kalshi to incorporate real-time forecasting data across its TV, digital and subscription platforms. According to Thursday’s announcement, Kalshi’s event probability data will be integrated into CNBC programming beginning in 2026, including on shows such as “Squawk Box” and “Fast Money,” with a dedicated ticker displaying forecast moves in real-time. Kalshi will also launch a CNBC-branded page on its platform featuring markets selected by the network. Read more

A recent $1 billion funding round led by Paradigm puts Kalshi co-founders Luana Lopes Lara and Tarek Mansour on the billionaire list.

Your Decrypt daily recap with @tyler_did_it for December 3rd 2025 Today’s headlines: BTC jumps back above $92K, BlackRock bullish on tokenized assets, Kalshi raise $11B, & more

Kalshi has doubled its valuation after its latest Series E funding round, which come as the prediction market posted record trading volumes last month. Prediction market Kalshi has closed a $1 billion funding round at a valuation of $11 billion, after seeing its best-ever monthly volume in November. Confirming an earlier report by TechCrunch, Kalshi said on Tuesday that its latest Series E round was led by the crypto-focused venture firm Paradigm, with participation from other crypto-engaged VCs Sequoia, Andreessen Horowitz and Cathie Wood’s ARK Invest. “Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth,” said Kalshi CEO Tarek Mansour. “We have created a new way of consuming and engaging with information.” Read more

The move could challenge other prediction platforms by providing Kalshi users with greater anonymity through tokenized buys and sales on the Solana blockchain. Predictions platform Kalshi has reportedly begun allowing users to buy and sell tokenized versions of its event contracts on the Solana blockchain. According to a Monday CNBC report, Kalshi has moved closer to courting cryptocurrency users by offering tokenized contracts, which are now live on Solana. The move tokenized bets on the predictions platform, which includes US elections, sports and more, making them tradeable on the blockchain. “There’s a lot of power users in crypto,” John Wang, Kalshi’s head of crypto, told CNBC. “This is about tapping into the billions of dollars of liquidity that crypto has, and then also enabling developers to build third-party front ends that utilize Kalshi’s liquidity.” Read more

Kalshi has joined predictions market rival Polymarket in the $10 billion-plus valuation club after reportedly raising another $1 billion from Sequoia Capital and CapitalG. Predictions market platform Kalshi has reportedly raised an additional $1 billion from at least two venture capital firms, increasing its valuation to $11 billion. Kalshi’s latest funding round was led by Sequoia Capital and CapitalG, according to a report on Thursday from TechCrunch that cited a person familiar with the matter. Andreessen Horowitz (a16z), Paradigm, Anthos Capital and Neo were among the other Kalshi investors that sat out on the latest $1 billion funding round. Read more