CFTC Steps In as Kalshi Secures $22B Valuation
The Commodity Futures Trading Commission (CFTC) has issued a no-action letter streamlining swap data reporting for fully collateralized event contracts. This regulatory relief arrives during a pivotal week for the sector, as the CFTC simultaneously urged the Sixth Circuit Court of Appeals to affirm its jurisdiction over prediction markets in an ongoing legal fight between Kalshi and the state of Ohio.
The regulatory backing coincides with a massive financial milestone for Kalshi, which officially confirmed a $1 billion raise at a staggering $22 billion valuation.
Polymarket Volume Slips Amid Rising Competition
As institutional capital accelerates and the prediction market sector matures, the landscape is becoming increasingly competitive. After tracking consecutive monthly gains, Polymarket's trading volume declined for the first time since August 2025.
Rivals are moving quickly to capture market share from short-term traders. Payments infrastructure firm MoonPay recently acquired Dawn Labs for an undisclosed amount, immediately rolling out an AI tool designed to provide custom trading strategies. Meanwhile, Myriad announced it is deploying a new range of crypto event contracts with immediate settlement capabilities powered by the Chainlink Runtime Environment.
Traders looking to navigate this evolving landscape can utilize prediction market tools to track these shifting volumes and new platform launches.