Prediction Markets

CoinDesk reports that Kentucky is advancing regulatory legislation targeting prediction markets, potentially making the state a red state that clashes with the Trump team on policy. The Trump family has recently been deeply involved in prediction market platforms, and this regulatory move has raised industry concerns about political interference. Analysts note that prediction markets, as an important application track in the crypto industry, will affect the broader digital asset market landscape. ...

Major U.S. gaming industry groups sent a letter to the Senate calling for an explicit ban on sports and casino-style prediction markets in the crypto market structure bill under consideration.

Decentralized exchange Hyperliquid has launched its HIP-4 product, allowing traders to bet on off-chain events like inflation and interest-rate decisions. The markets are governed by validators and use automated newsfeed software to publish outcomes, directly challenging Polymarket.

Indian regulators have cracked down on prediction markets, with Polymarket ceasing operations in the country. CoinDesk reports that other platforms like Kalshi could face similar restrictions. The move reflects a tightening regulatory trend for prediction markets globally. Meanwhile, Polymarket is eyeing entry into the Japanese market and has appointed a regional representative.

Prediction market platform Kalshi confirmed a $1 billion raise at a $22 billion valuation. Institutional trading volume surged 800% over the past six months, with annualized trading activity reaching $178 billion. The funding highlights the explosive growth of the prediction market industry.