The results of the Democratic primary delivered a blow to the progressive wing of the party, but also to Polymarket and Kalshi—popular prediction market platforms that had gained a near-infallible reputation after accurately forecasting the outcome of every state in the 2024 presidential election. Polymarket and Kalshi event contracts on the outcome of the Wisconsin
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,
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 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,
Sylvie Andrews and her partner not only lost the new home they had helped build when the Eaton Fire devastated Altadena, California, in January 2025. They lost an entire decade of sacrifices they had made to put down roots in their hometown and the community they had created. “We put a lot of blood, sweat