Author: Maisie Morrison

TLDR The Ninth Circuit unanimously denied Kalshi’s petition for rehearing in its Nevada case. No judge requested a vote for a full-court review. Nevada’s ban on Kalshi’s sports event contracts stays in place. Kalshi has 90 days to ask the U.S. Supreme Court to hear the case. Public comments on the CFTC’s proposed event contract rule are due November 18. Kalshi now has 90 days to decide whether to take its fight with Nevada gaming regulators to the U.S. Supreme Court. The clock started after a federal appeals court refused to reconsider its earlier ruling against the prediction market company.…

TLDR The Second Circuit denied Kalshi and Coinbase’s requests to pause state gambling enforcement in New York and Connecticut. The ruling, dated November 3, covers three separate appeals involving the two companies. The order does not force either company to stop trading or close existing positions. New York’s possible damages claim against Kalshi has been placed at $36 billion. Federal appeals courts remain divided on whether federal derivatives law overrides state gambling rules. A federal appeals court has refused to shield Kalshi and Coinbase from state gambling enforcement in New York and Connecticut. Both prediction market operators must now keep…

TLDR Kalshi traded $4.15 billion on Election Day, its busiest weekday on record. The total stayed below the $5.3 billion record set on Saturday, Oct. 24. Parlay-style combos fell to 58.6% of volume, their lowest share since at least Oct. 10. Texas’ Senate race led all election markets at $108.1 million. Kalshi and Polymarket both settled House and Senate control for Democrats on Nov. 4. Kalshi recorded $4.15 billion in notional volume on Tuesday, Nov. 3, the day of the U.S. midterm elections. The figure comes from the exchange’s daily market data and is its busiest weekday on record. The…

TLDR India’s CERT-In named an AI-assisted hacking group “CRAFTY FALCON” in an updated advisory. Crypto exchanges are now officially listed among the targets, along with lenders and fintech firms. Attackers stole crypto wallet keys and drained funds using victims’ own payment systems. Some firms that had already fixed their systems after earlier warnings were still breached. CERT-In did not name any affected exchanges or say how much money was lost. India’s national cybersecurity agency says an AI-assisted hacking group is timing some of its attacks for weekends and holidays, when fewer staff are watching. The group has stolen crypto wallet…

TLDR Former Conservative MP Katie Wallis admitted changing the date on an image of her own passport to get around a gambling self-ban. She pleaded guilty to an offence under the Computer Misuse Act at Cardiff Crown Court. Two counts linked to possession of a false passport were dismissed. She received a nine-month conditional discharge. The judge called it a “single impulsive” act during a period of psychological distress. Former Conservative MP Katie Wallis has admitted changing the date on a digital image of her own passport to get past a gambling block she had placed on herself. The case…

TLDR Sportradar said prediction markets added to its results for the first time in Q3. U.S. revenue rose 47% to €98 million, up from about 10% growth in the first half. The CEO said more than 300 market makers could want faster sports data. Partners include Kalshi, Polymarket, Novig, Robinhood and about 10 market makers. Q3 revenue rose 24% to €362.5 million, and the 2026 outlook was kept. Sportradar said prediction markets made their first positive contribution to its results in the third quarter. The sports data company is now selling its feeds to a growing list of exchanges, brokers…

TLDR South Korean police caught 43 suspects tied to a $1.9 billion illegal gambling ring. The group’s suspected leader was kidnapped in Malaysia for a $10 million crypto ransom. An associate paid $3 million before Malaysian police rescued him four days later. Police then found he was wanted on an Interpol Red Notice for illegal gambling. Investigators found about $117 million in suspected criminal proceeds and are seeking to freeze it. South Korean police have broken up an illegal gambling ring that handled about $1.9 billion in bets. The case came to light after its suspected leader was kidnapped in…

TLDR Sports made up 83% of prediction market open interest in October, up from 73% in September. Daily turnover rose 55% to an all-time high of $4.13 billion, per Jefferies. Open interest climbed 45% to a record $3.27 billion. Weekend combo bets leaned toward NFL and college football, helping DraftKings’ DKeX. Polymarket and Rothera posted monthly gains as non-sports volume also rose 55%. Sports contracts tightened their grip on prediction market money in October. Sports made up 83% of open interest last month, up from 73% in September, according to a client report from Jefferies analyst Daniel Fannon. Open interest…

TLDR The Philadelphia 76ers signed a multi-year partnership with prediction market company Kalshi. The 76ers are the first NBA team to name an official prediction market partner. Kalshi will fund postgame SEPTA rides for fans at the 76ers’ 3 November game against the Knicks. 76ers forward LeBron James separately signed a Polymarket deal reported at $15 million a year. The NBA recently named Kalshi and Polymarket as its preferred prediction market exchanges. The Philadelphia 76ers have signed a multi-year partnership with Kalshi, a prediction market company. The deal makes the 76ers the first NBA franchise to name an official partner…

TLDR Hard Rock’s AI insights feature drew strong praise in hands-on app testing by Eilers & Krejcik Gaming. FanDuel’s conversational AceAI tool received mixed feedback from testers. Bet365, FanDuel and Hard Rock are using AI for game previews, research and bet-building help. EKG says the main AI opportunity for sportsbooks is customer retention and engagement. AI bet-building tools could lift interest in high-margin parlays and same-game parlays. Hard Rock’s sportsbook AI feature drew stronger reviews than FanDuel’s chatbot in recent hands-on app testing, according to research firm Eilers & Krejcik Gaming (EKG). The findings come as more sportsbook operators add…