InGame

🚨Something new over at InGame dot com: we've introduced a Live Blog for prediction market news. ⚡️Updates there will be similar to our traditional coverage, but the intention is to include a variety of brief, short-form updates. In other words, the priority here is speed, with as much context available.

More via @Dan_O_Boyle -- ingame.com/rhode-island-s…

Getting the case before a state court appears to offer a quicker path to an actual ban, based on action elsewhere. In the federal court system, even when the states have won initial victories, prediction markets have generally been able to pause enforcement while rulings go through appeals.

Kalshi sued the state of Rhode Island in federal court on Thursday, while the state sued both Kalshi and Polymarket. But a key question before then is whether those contracts can continue to be listed in states that argue they are illegal until the Supreme Court weighs in on their legality.

🚨 New episode alert @jeffedelstein sits down with @Dan_Zmann, co-founder and Chief Intelligence Officer of Betting Intelligence, to discuss the explosive growth of prediction markets and the weaponization of market data. ▶️ YouTube: youtu.be/5tcGUJFRfjA ⚪️ Apple: podcasts.apple.com/us/podcast/e29… 🟢 Spotify: open.spotify.com/episode/1Ocyte…

Seriously, what is the point of prediction markets like Kalshi offering trading on reality shows that have already taken place? Time to vent, for @InGameHQ: ingame.com/survivor-kalsh…

Read @jeffedelstein's take on the hearing: ingame.com/prediction-mar…

The Senate spent a day beating up on prediction markets. It was bipartisan, and a lot of it was fair and/or obvious. But will it change anything?

Read more here: ingame.com/senate-commerc…

Wednesday’s highly anticipated congressional hearing on sports betting integrity netted little new for the gambling industry. It was more of an educational moment for the Senate Committee on Commerce, Science, and Transportation’s Subcommittee on Consumer Protection, Technology, and Data Privacy. Five witnesses testified and fielded questions from the committee, which for the most part was transparent about where it stood on prediction markets and federal oversight of sports betting.

Video link here -- commerce.senate.gov/meetings/no-su…

This hearing -- 'No Sure Bets: Protecting Sports Integrity in America' -- before the U.S. Senate Committee on Commerce, Science & Transportation is underway. @BillMillerAGA is now testifying. We'll update on any notable remarks or actions.

Read more on the lawsuit here: ingame.com/cftc-lawsuit-m…

Harkening back to the late 19th century, the question of whether or not futures trading is gambling has been a jurisdictional conundrum. The Commodity Futures Trading Commission (CFTC) pointed to that struggle — and a 1905 Supreme Court decision — in a lawsuit it filed Tuesday in response to the state of Minnesota making some prediction market contracts illegal in the state.

Read more here: ingame.com/betr-approval-…

The business co-founded by Paul bought Chicago-based introducing broker ACM Futures, also known as Ascent Capital Markets, thereby obtaining its Commodity Futures Trading Commission (CFTC) and NFA registration, NFA filings dated May 14 show.

Exclusive: Betr, the daily fantasy site co-owned by Joey Levy and influencer Jake Paul, has bought approval to operate as a prediction market broker, having acquired a firm that was registered with the National Futures Association (NFA).

Read more here: ingame.com/kalshi-demo-le…

The documentation page also notes that a number of features related to parlays, such as the Request-for-Quote system, are “Not available on margin.”

Kalshi has launched a demo environment for trading on margin and promised real-life margin trades “coming soon” — but at least for now the demo only covers cryptocurrency perpetual futures, not event contracts.