Despite bitter rivalry, Kalshi, Polymarket CEOs back M predictions markets VC fund

Despite bitter rivalry, Kalshi, Polymarket CEOs back $35M predictions markets VC fund

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…

Read More
Amid legal turmoil, Kalshi is temporarily banned in Nevada

Kalshi’s legal troubles pile up, as Arizona files first ever criminal charges over ‘illegal gambling business’

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…

Read More
Here’s what happened in crypto today

Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto: Itaú Asset has recommended that investors hold 1% to 3% of their portfolios in Bitcoin next year, NYDIG says tokenization won’t hugely benefit crypto…

Read More
Connecticut orders Robinhood, Crypto.com, Kalshi to stop prediction markets

Connecticut orders Robinhood, Crypto.com, Kalshi to stop prediction markets

Connecticut has sent cease and desist letters to Robinhood, Crypto.com and Kalshi, claiming the platforms’ event contracts are unlicensed sports betting. The US state of Connecticut has hit Robinhood, Kalshi and Crypto.com with cease and desist orders, accusing the platforms of offering unlicensed sports betting through event contracts. The Connecticut Department of Consumer Protection (DCP)…

Read More