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Tennessee became the ninth state to order prediction market platforms to cease sports betting operations. The Tennessee Sports Wagering Council sent cease-and-desist letters January 9 to Kalshi, Polymarket and Crypto.com. Kalshi filed a federal lawsuit the same day. Platforms must refund Tennessee u

Charles Schwab CEO Rick Wurster said prediction markets have devolved into "95% sports gambling," marking a sharp departure from their original purpose as portfolio hedging tools. The comments come as platforms face legal challenges in 10 states over whether they constitute regulated sports betting.

Coinbase on Monday announced it has acquired** The Clearing Company**, a move that places the lesser-known prediction markets firm at the center of the crypto exchange’s latest push to expand into event-based trading. What Happened The transaction comes shortly after Coinbase rolled out access to pr

Prediction markets are positioned to reach $1 trillion in annual trading volume by 2030, according to a new analysis from Eilers & Krejcik, a research firm specializing in sports and interactive gaming sectors. The projection comes as traditional sportsbooks rush to launch their own prediction platf

Ethereum (ETH) co-founder Vitalik Buterin defended prediction markets against ethical criticism in heated exchanges with industry figures who argue betting on real-world deaths explains crypto's mainstream reputation problem. Writing on Farcaster, Buterin positioned prediction markets as superior tr