Polymarket

Rule Changes

Operating in Michigan while facing legal challenge

A water tower along I-94 in Detroit now carries the dark blue logo of Polymarket, the prediction market platform. The city says the ad has no permit and plans to investigate.

Updated Sep 18

Money Moves

Pursuing U.S. re-entry as Kalshi's main competitor

Kalshi closed a $1 billion funding round on May 7 at a $22 billion valuation, led by Coatue Management with Morgan Stanley, Sequoia, Andreessen Horowitz, Paradigm, IVP, and ARK Invest. Annualized trading volume reached $178 billion, up from $52 billion six months earlier, and Kalshi now accounts for more than 90% of U.S. prediction market activity.

Updated May 31

Rule Changes

Faces regulatory scrutiny amid insider trading scandals

Prediction markets have existed in legal limbo since 2003, when U.S. senators killed a Pentagon program that would have let people bet on terrorist attacks. An Israeli reservist and civilian face prosecution for using classified military intelligence to profit $150,000 on Polymarket, placing suspiciously accurate bets on the June 2025 Israel-Iran war — a first.

Updated May 29