Category Archives: Prediction markets

Utah files criminal charges against prediction market Kalshi and company co-founders

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Firm calls charges, which include violating state gambling ban and profiting from illegal activity, ‘crazy overreach’

Utah on Wednesday filed criminal charges against prediction market operator Kalshi and two of its executives, months after a federal judge rejected Kalshi’s effort to prevent Utah from enforcing its strict anti-gambling laws against the activity.

The felony charges could represent a new tactic in how states try to assert regulatory authority over the fast-expanding activity, a clash that appears headed to a showdown at the US supreme court.

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Spain blocks access to Polymarket and Kalshi as it launches gambling licence investigation

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Prediction sites, which allow bets on all topics from weather to politics, may be in breach of country’s rules

Spain’s ministry of consumer rights has blocked access to Polymarket and Kalshi while it investigates whether the leading prediction market sites are violating Spanish law by operating without a gambling licence.

On Tuesday the ministry said it had launched disciplinary proceedings against the two platforms, which allow users to bet on everything from the weather to political events, amid allegations that they lacked the “necessary administrative authorisation” to operate in Spain.

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US soldier pleads not guilty to charges of betting on Nicolás Maduro’s ouster

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Prosecutors allege Gannon Van Dyke won $400,000 using insider information to bet on Maduro raid on Polymarket

The US army soldier charged with winning $400,000 by using insider information to bet on the removal of the ousted Venezuelan president Nicolás Maduro pleaded not guilty to fraud charges on Tuesday.

Gannon Ken Van Dyke, 38, entered the plea in US district judge Margaret Garnett’s courtroom in Manhattan. Van Dyke sported a shaved head and wore a black blazer, jeans and brown shoes as he arrived to the courtroom with his lawyers, Zach Intrater and Mark Geragos.

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