Independent U.S. regulator of derivatives markets since 1974
Kalshi has started collecting job information to screen markets at heightened risk of manipulation and is rolling out a risk-scoring system plus 24/7 whistleblower channel. The measures aim to curb insider trading after a string of cases across Kalshi and Polymarket, including investigations into George Santos and a Google insider-trading case.
U.S. forces have carried out an airstrike that has killed Héctor Rusthenford Guerrero Flores, known as Niño Guerrero, the leader of Venezuelan gang Tren de Aragua, U.S. and Venezuelan officials have said. Defense Secretary Pete Hegseth and President Donald Trump have said the operation targeted a compound in Bolívar state earlier this week and involved coordination with Venezuelan security forces.
Kalshi has launched U.S. trading of perpetual futures, marking a milestone for the platform after regulatory approval. In the first 24 hours, volume surpassed $100 million, eventually crossing $1 billion within a week as traders flock to perps that track asset prices with no expiration date.
Michael Burry has moved into regulated sports betting operators, saying regulation will force prediction markets to be taxed and integrated, as some rivals face scrutiny. He has bought stakes in Flutter Entertainment and DraftKings, arguing the sector exists in a regulatory loophole. Meanwhile, Kalshi disputes claims of disparities in retail user outcomes and growth.
The White House has placed Gabriel Perez, a teleprompter operator who has worked for the president since 2016, on unpaid administrative leave after Kalshi flagged suspicious bets tied to words in presidential speeches. Kalshi has referred trades to the Commodity Futures Trading Commission and has frozen more than $90,000 in accounts while regulators investigate.
Regulators in France and the United States are clamping down on online prediction markets amid worries about betting on real-world events and misuse of information. France blocks Polymarket’s site for advertising, while ANJ warns fines could reach 100,000 euros. Separate cases involve a teleprompter operator accused of betting on Trump speeches and a US soldier charged over bets tied to a Maduro operation.
Courts have blocked Minnesota’s prediction market ban, while federal agencies push for broader regulation and states push back. The cases test federal preemption versus state gambling authority, with ongoing litigation and potential appeals shaping the future of event-contract markets.
New York state officials have filed a state Supreme Court lawsuit against Kalshi, alleging the prediction market platform operates illegally without a Gaming Commission license, endangers consumers, and should forfeit gains and pay restitution and penalties. The action adds to a broader clash over how prediction markets are regulated between states and the federal government.
The Commodity Futures Trading Commission has settled with George Santos, banning him from trading for three years, and ordering him to forfeit more than $17,000 and pay a $17,500 penalty for trading on Kalshi bets about the State of the Union attendance. Santos’s lawyer says the resolution puts this matter behind him, with no admission of wrongdoing.
State prosecutors allege Kalshi has offered prediction markets without a license, exposing New York residents to financial risk and evading taxes. The suit seeks to block operations in New York and restitution for affected customers, as regulators clash over federal preemption and state authority.
Truth API has launched a real-time data feed for Truth Social posts to institutional clients, enabling near-instant access for high-frequency traders. Several outlets report on its revenue ambitions, potential market impact, and regulatory scrutiny as investors watch how this service shapes trading dynamics.
Nvidia has enlisted six Wall Street firms to finance a $500 billion buildout of AI infrastructure, treating compute as a new asset class. The plan centers on financing data centers and GPU clusters for customers unable to pay upfront, with OpenAI-related projects and neoclouds in focus. Executives cite long-term value and revenue generation, while cautions focus on depreciation risk and China’s potential price competition.
The Intercept and Freedom of the Press Foundation have sued in federal court to block Truth Social’s Truth API, arguing the paid feed gives traders preferential access to the president’s market-moving posts and that selling prioritized access to official announcements violates the First and Fifth Amendments. Trump Media says the product is standard industry practice; the company has already signed institutional customers and reported large quarterly losses.
Washington state has obtained a preliminary injunction against Kalshi, barring most wagers on sports, elections, and related topics. Kalshi must implement geofencing by Sept. 2 and faces penalties if it fails. The case highlights a clash between state regulators and federal oversight over prediction markets, with the CFTC declaring a market emergency amid pressure from New York’s lawsuit.
Bloomberg and Al Jazeera reporting show a widening pattern of transshipment and tariff avoidance, with solar-panel routes rerouted across China, Vietnam and Indonesia to dodge duties, while US actions intensify enforcement and scrutiny.
Bitcoin has moved higher, aided by a surge in crypto stocks after the Treasury Department signs a plan to double debt buybacks. The rally has buoyed Bitcoin toward the low $70,000s, but remains below the mid-January and all-time highs. Democrats and Republicans debate regulatory scope as the Clarity Act looms, with the market awaiting further clarity.
Bitcoin has climbed this week as the Treasury Department doubles long-dated debt buybacks, easing yields and attracting buyers across crypto and risk assets. Trump pushes a crypto bill while inflation and debt concerns loom; analysts see potential for further gains but warn of a reversal if hawkish signals prevail.
A wave of court rulings on prediction markets, led by Kalshi, has put federal and state regulators at odds. The Ninth Circuit has ruled Nevada may apply its gaming laws to Kalshi’s sports-event contracts, a decision echoed by other circuits as litigation intensifies. The Supreme Court is likely to weigh in as cases diverge.
The Commodity Futures Trading Commission has ordered former White House teleprompter operator Gabriel Perez to repay $107,539.02 in profits, pay a $65,000 civil penalty and accept a three‑year trading ban after finding he used advance access to presidential speeches to place bets on Kalshi between December 2025 and February 2026. The CFTC credited his cooperation and KalshiEXfor assisting the probe.
Prediction-market platform Kalshi has permanently banned George Santos and fined him $71,356 after its compliance team concluded he placed trades tied to his attendance at President Trump’s 2026 State of the Union and manipulated market prices. The action follows a separate CFTC settlement this summer that barred Santos from trading for three years and required a $35,000 payment.