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Prediction market Kalshi sent Netflix a cease-and-desist letter on Friday demanding that the streaming service take down the trailer for an upcoming documentary. In the letter, Kalshi claimed the trailer is “defamatory” and contains “both fabricated documents and false and misleading statements.” “Instadocs: The Prediction Games” is a documentary about the rise of prediction markets….
Netflix has been threatened with legal action by Kalshi, which accuses the streaming giant of defamation over a trailer for an upcoming documentary that showed traders making wagers in a state it’s not allowed to operate. In a cease-and-desist, Kalshi demanded Netflix to immediately take down the trailer for Instadocs: The Prediction Market Games and…
Prediction market startup Kalshi announced on Thursday a $1 billion Series F round, valuing the company at $22 billion. That’s double the $11 billion valuation Kalshi nabbed just five months ago after raising a $1 billion Series E. This latest round was led by Coatue, with participation from Sequoia, Andreessen Horowitz, and Paradigm. The startup…
Arizona Attorney General Kris Mayes’ case against prediction market Kalshi appears to have hit a snag. The Commodity Futures Trading Commission announced Friday that it has won a temporary restraining order preventing the state from pursuing its criminal case against Kalshi (whose CEO Tarek Mansour is pictured above). “Arizona’s decision to weaponize state criminal law…
Few rivalries in the startup ecosystem are as intense (and occasionally bitter) as the race between Polymarket and Kalshi for dominance in the rapidly growing prediction market arena. Despite their fierce competition, the CEOs of both companies are investing in 5(c) Capital, a new prediction market-focused VC firm launched by former Kalshi employees, Fortune and…
Kalshi isn’t having a very good week. On Tuesday, the attorney general of Arizona filed a 20-count criminal complaint against the online prediction market, accusing it of running an illegal gambling business. Now, another southwestern state has taken a big swing at the company: A judge in Nevada has temporarily banned the service from operating…
Arizona attorney general Kris Mayes has filed criminal charges against prediction market platform Kalshi for allegedly operating an illegal gambling business in the state without a license and for election wagering. The 20-count complaint, filed in Maricopa County court on Tuesday, accuses the company of engaging in unlicensed gambling activities, claiming that the site “accepted…
Prediction market Kalshi is making it easier for its users to have conversations on Meta’s social network Threads. Kalshi now offers a share option that will automatically embed the relevant prediction market chart into a Threads post. Whether people want to discuss who’s going to win Best Picture or which reality TV contestant is going…
Prediction market users have made — and profited from — big bets around the bombing of Iran by the U.S. and Israeli military. On Polymarket, $529 million was traded on contracts tied to the timing of the attack, according to Bloomberg. An analysis by analytics firm Bubblemaps SA found that six newly-created accounts made a…
Coinbase sued regulators in Connecticut, Illinois and Michigan, arguing CFTC-regulated prediction markets fall under federal commodities law, not state gambling rules. Coinbase is taking three US states to court in a bid to lock in federal protection for its planned prediction markets, opening a new front in the battle over whether event contracts are finance…