Twenty-eight-year-old Jacob Fortinsky has been busy. “I was a groomsman at two weddings this weekend,” he tells me over Zoom. Also, the sports trading company he runs, Novig, launched its prediction market last week, facilitating $18 million in trading volume on its first day. Today, Novig launches a “responsible trading framework” in its exchange rulebook,
Kalshi and Polymarket say allowing people to bet on the outcomes of clinical trials and FDA drug approvals provides valuable information about drug development. But researchers warn the bets could incentivize insider trading and interfere with the integrity of the process. Fred Tanneau/AFP via Getty Images hide caption toggle caption Fred Tanneau/AFP via Getty Images
SALT LAKE CITY — Utah can enforce its strict anti-gambling laws on prediction markets such as Kalshi and Polymarket, a federal judge ruled in a win for states seeking to rein in the popular betting platforms. Utah has been on the front lines of a battle between states and the federal government over who regulates
Kalshi’s CEO says the scrutiny his company is facing is just part of a cycle that most disruptive startups must go through. Tarek Mansour, the prediction market’s cofounder, spoke on CNBC on Monday about the lawsuits Kalshi is facing from multiple states. “I think the more interesting thing that’s at play here is that you
Kalshi sent Netflix a cease-and-desist letter on Friday demanding that the streaming service pull the trailer for an upcoming documentary. In the letter, Kalshi claimed that 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. According to
Prediction markets planted their flag on Main Street. Now they are targeting Wall Street. Yesterday afternoon, I spoke with Andy Ross, Kalshi’s institutional director, about the platform’s push to attract institutional investors. The 40-minute conversation covered how Ross is trying to attract bigger players to the platform, the impact it can have on their businesses,