Prediction market platform Polymarket is in talks to raise approximately $1 billion at a valuation exceeding $20 billion, more than double its $9 billion valuation from October 2025. The fundraising comes months after the company closed an earlier round with investment from hedge fund D.E. Shaw & Co.
Prediction market platforms Kalshi and Polymarket recorded a combined $50.59 billion in trading volume during July 2026, setting a new monthly record driven by strong interest in FIFA World Cup betting markets and sports contracts.
George Santos, the former Republican congressman expelled from the House in 2023, has settled an investigation into unlawful trading related to wagers he placed on prediction market Kalshi, paying $35,000 to resolve the probe.
New York Governor Kathy Hochul and Attorney General Letitia James filed a lawsuit against prediction market platform KalshiEX, LLC, alleging it operates an illegal, unlicensed gambling operation in the state. The lawsuit seeks to halt Kalshi's operations and demands the company forfeit approximately $36 billion.
New York's attorney general has filed a lawsuit against prediction market platform Kalshi, claiming the company operates illegal gambling operations without proper licensing. The legal action follows similar suits against cryptocurrency exchanges Coinbase and Gemini.
A federal judge granted a preliminary injunction Monday blocking Minnesota from enforcing a new law that would have made it the first state to ban prediction markets like Kalshi and Polymarket. The ruling came days before the law was set to take effect, with the judge finding it likely conflicts with the Commodity Exchange Act.
Institutional digital asset trading platform Talos has integrated with prediction market operator Kalshi, enabling hedge funds and market makers to access event contracts and crypto perpetuals through their existing trading infrastructure without separate connections.
Gabriel Perez, President Donald Trump's longtime teleprompter operator, has been placed on unpaid administrative leave and is under federal investigation by the CFTC for allegedly using insider knowledge to profit from bets on Trump's speeches on the prediction market Kalshi.
