CFTC Cracks Down on "Cookie-Cutter" Certifications
The Commodity Futures Trading Commission (CFTC) has issued its second advisory of the year warning prediction markets against cutting corners in their listing processes. The regulator explicitly told platforms to stop issuing overly broad, template-style self-certifications for new event contracts, signaling growing federal frustration with how firms are introducing new markets.
Retail Giants Push Forward Despite Headwinds
While prediction market companies continue to face legal battles with state and federal authorities in the US, major retail brokerages are actively pursuing expansion. Robinhood is reportedly in talks with Crypto.com to broaden its prediction market services, according to the WSJ. North of the border, Coinbase is preparing to bring its "Everything Exchange" to Canada. While no official launch date has been set, the Coinbase Canada CEO confirmed that "phase two" is in motion to create a one-stop shop for stocks, crypto, and prediction markets.
Institutional Inroads and Political Betting Controversies
Regulated platform Kalshi is deepening its institutional footprint, having integrated with Talos. The partnership provides institutional clients with direct access to Kalshi's event contracts and crypto perpetuals through Talos's existing trading infrastructure. As institutional volume scales up, having access to reliable prediction market tools is becoming essential for traders navigating these newly integrated order books.
Meanwhile, political betting volume continues to generate headlines on decentralized platforms. A Polymarket account named "GCottrell93"—reportedly in the name of a Nigel Farage backer—took in $9 million in crypto from unknown sources. The account successfully bet the funds on a Donald Trump election victory and cashed out the profits, though the Financial Times reports that both the original source of the funds and the final beneficiary remain unclear.