The judge found at the preliminary-injunction stage that Novig's sports contracts are not swaps and sharply criticized the CFTC's efforts to shield prediction markets.

The US exchange recorded $14.77 billion in October face-value turnover, while its fees vary by contract price, product and trader tier.

The March 26 proposal also targets US government-action contracts, with a commercial-hedging exception defined by the CFTC. It remains in committee.

Kalshi must report compliance steps within 21 days, after the tribes disputed the effectiveness of its voluntary location blocks.

The Second Circuit denied interim protection in Connecticut and New York, but its order does not require trading to stop or existing positions to close.

The gauge combines 13 election events, with payouts tied to a time-weighted index reading rather than a race call.

Exchange review, oracle challenges and deposit holds create different paths from a winning position to money outside the platform.

The senators set a Nov. 3 deadline for answers, including how many suspected election-trading violations were stopped before trades occurred.

A federal lawsuit seeks to block Utah enforcement, but the state has already won an initial ruling against the prediction market exchange.

The platform blamed a compromised third-party provider but kept trading halted while it worked to restore service.