NYT
Prediction Markets and States Clashed, Setting Off a Furious Political Battle
Thursday, August 27, 2026
The Commodity Futures Trading Commission and multiple state attorneys general have initiated legal action regarding prediction market platforms including Kalshi and Polymarket. The Trump administration and state officials have taken conflicting positions on regulatory authority over these platforms. The dispute centers on whether prediction markets fall under federal or state jurisdiction and what restrictions should apply to their operations.
