There’s a big battle brewing in the booming world of prediction markets — pitting Polymarket against Donald Trump’s crypto empire. Two significant stories have emerged this week, with the first being Polymarket’s plans to re-enter the US market by the end of November. This comes three years after the crypto-powered betting platform was forced to leave America because of a crackdown led by the Biden administration. It’s important to stress that the market leader won’t be available nationwide at first, and ...

Predictions marketplace Kalshi Inc. sued New York’s gaming commission, saying the state agency is overstepping its authority by attempting to regulate sports-betting operations that fall exclusively under federal jurisdiction.In a lawsuit filed Monday in Manhattan US District Court, Kalshi said that it’s operating legally in New York under federal law. Kalshi accused state regulators of threatening the company over its so-called event contracts and asked a federal judge to immediately block the state from a ...

Sanmeet Deo: Well, prediction markets, basically, in essence, if you think of the movie Rat Race, where the rich guys are betting on anything and everything happening in the whole, like the movie, that's what prediction markets are. The recipe for the explosion was really legal, well funded, and user friendly product that lets anyone trade on, real world events, like New York City Mayor election, top artists on Spotify, the existence of aliens. Kalshi she is one of them, which became the first CFTC regulate ...

Key Takeaways Digital prediction markets are drawing in throngs of users—and investors. Speculating is trending in stock markets, sports betting, and the broader world of prediction markets. The latter are shaping up up to be the new playgrounds for retail investors—and attracting those who want in on the action. The investor interest follows user activity. Weekly prediction market volume hit a record high last week of over $2.3 billion, across a handful of tracked platforms including Polymarket and Kalshi, ...

Core Insights - Trump Media & Technology Group is launching a new prediction market platform called Truth Predict, which will be integrated with Truth Social [1][2] - The platform will allow users to wager on various real-world events using blockchain technology, with initial testing set to begin soon [2] - The partnership with Crypto.com Derivatives North America will facilitate the processing of wagers, enhancing the relationship between Trump Media and the crypto exchange [3] Company Developments - CEO Devin Nunes stated the aim is to "democratize information" and enable "everyday Americans" to leverage collective insights [4] - Following the announcement, Trump Media's stock experienced a rise of up to 3%, reaching an intraday high of $16.63 [4] Industry Context - The prediction market sector is gaining traction, with platforms like Polymarket and Kalshi experiencing record volumes and attracting interest from major players such as CME Group and Intercontinental Exchange [5] - Donald Trump Jr. has joined Kalshi as a strategic advisor and has connections to both Polymarket and Kalshi through his venture capital fund [6] - Recent funding rounds in the prediction market space include Polymarket securing up to $2 billion at a valuation of $9 billion and Kalshi raising $300 million at a valuation of $5 billion [7]

Core Insights - Trump Media & Technology Group is expanding into the prediction market, a $20+ billion industry, through a partnership with Crypto.com Derivatives North America [1][2] - The new feature "Truth Predict" will allow users to trade contracts on real-world events, making Truth Social the first social media platform to offer federally regulated event contracts [2][4] Group 1: Business Expansion - The integration of prediction markets into Truth Social aims to transform social conversations into tradeable foresight [2][3] - Truth Predict will begin beta testing in the US before a global rollout, leveraging regulatory compliance and Crypto.com's infrastructure [4] Group 2: User Engagement and Economy - Users can earn "Truth gems" through engagement on Truth Social and convert them into Crypto.com's Cronos (CRO) token to purchase prediction contracts, creating an on-platform play-to-trade economy [5] - The integration is seen as a significant step towards mainstream adoption of event-based markets, combining regulated trading with social engagement [5][6] Group 3: Financial Position - Trump Media claims over $3 billion in financial assets and recently reported its first quarter of positive cash flow since going public [7]

US President Donald Trump Donald Trump’s social-media company is getting into the prediction markets business, where record betting is attracting a host of new entrants. Most Read from Bloomberg Trump Media & Technology Group Corp. plans to make prediction contracts available on its Truth Social network, allowing users to bet on events ranging from political elections to inflation-rate changes, according to a statement on Tuesday. Initial testing of the service, called Truth Predict, will start “in the n ...

Core Insights - Polymarket is preparing to launch a native token and airdrop to raise fresh capital at a higher valuation [1] - The prediction market sector is experiencing significant growth, with Polymarket and rival Kalshi both seeking high valuations [2] - Polymarket's trading volume reached a record $2 billion, indicating strong retail and institutional participation [3] Group 1: Company Developments - Polymarket's Chief Marketing Officer confirmed the upcoming token launch will follow the platform's U.S. relaunch [1] - The platform's valuation has increased from $1.2 billion to $9 billion this year, following a $150 million funding round [3] - A major investment agreement with Intercontinental Exchange resulted in a $2 billion investment in Polymarket [4] Group 2: Market Activity - The prediction market sector is described as a "perfect storm of liquidity," contributing to Polymarket's growth [2] - Polymarket listed a record 13,800 new markets in August, reflecting increased user engagement during the 2024 U.S. presidential election cycle [4] - Both Polymarket and Kalshi are in discussions to raise additional funding, with valuations of $12–15 billion and above $10 billion, respectively [2]

Camp Network’s $10 Airdrop Fee Scrapped Amid Community Pressure. Photo by BeInCrypto Polymarket Chief Marketing Officer Matthew Modabber has confirmed plans to launch a native POLY token and airdrop, marking the company’s first official acknowledgment of long-rumored tokenization. The move comes as the prediction-market platform hits record trading levels and attracts new institutional attention following a $2 billion investment from Intercontinental Exchange, the parent of the New York Stock Exchange. To ...

(Bloomberg) -- The prediction market Polymarket is holding early conversations with investors and looking to raise money at a valuation between $12 billion and $15 billion, more than 10 times its value just four months ago, according to people familiar with the matter.Polymarket’s valuation has ascended quickly. In June, Peter Thiel’s Founders Fund led a $200 million funding round for the startup, valuing it at $1 billion. Earlier this month, Intercontinental Exchange Inc., owner of the New York Stock Excha ...