Lawmakers Pile On
Three new federal proposals dropped this week, all aimed squarely at prediction markets.
The bills target sports-style contracts, insider trading, and wagers tied to elections, government actions, and even military moves.
Regulators Zero In
One measure would block platforms from listing casino-style or sports-bet lookalikes. Another seeks to stop senior officials from profiting off insider knowledge.
Platforms Respond
Kalshi and Polymarket widened their bans, cutting off candidates, athletes, team staff, and referees from trading in markets where they could hold an unfair edge.
Trading Still Explodes
TRM Labs reports monthly volume has rocketed from $1.2B in early 2025 to over $20B in January.
Geopolitical contracts are fueling much of the surge, while Kalshi’s March Madness markets alone pulled in $800M during opening weekend.
Big Money Keeps Flowing
Intercontinental Exchange added another $600M to Polymarket, bringing its total stake near $2B.
ARK Invest also expanded its footprint, signaling that institutional players aren’t backing down.
