Prediction Markets

Indonesia blocked Polymarket after users bet on President Prabowo Subianto leaving office early, citing gambling concerns and expanding global scrutiny of prediction markets.

"We’re not going to be outspent or out-organized by entrenched interests protecting their monopolies," said John Bivona, head of government relations at Kalshi.

A New York Times investigation found that senior CFTC officials who raised concerns about Polymarket, Crypto.com and Gemini were suspended and pushed out.

Representative James Comer asked CEOs of two major prediction market companies for information on their responses to insider trading after “suspiciously timed trades” related to US military actions against Iran.

Polymarket is reportedly seeking entry into Japan amid falling trading volumes and rising regulatory scrutiny, targeting approval by 2030.

Polymarket said user funds and market resolution were safe after a suspected private key compromise tied to top-up operations.

The financial regulator signed a similar agreement with Major League Baseball in March and continues to file lawsuits against state-level authorities going after prediction market platforms over sports betting.

Bitwise, Roundhill Investments and GraniteShares had their prediction market ETF applications put on hold by the SEC earlier this month.

About 24 hours after Minnesota Governor Tim Walz signed a bill into law passed by the state’s legislature to effectively ban prediction markets in the state, the CFTC pushed back with its own lawsuit.