Polymarket Reportedly Seeks $50M in Funding, Mulls Token as Election Bets Surge
Throughout this year, one startup has seen remarkable success, much to the chagrin of Kalshi. Kalshi is a regulated, dollar-denominated prediction market currently embroiled in a lengthy court battle with its overseer, the U.S. Commodity Futures Trading Commission. The main point of contention in this legal dispute is Kalshi’s desire to list contracts regarding which party will control each house of Congress.
The U.S. Commodity Futures Trading Commission has proposed a rule that would prohibit election event contracts at all exchanges under its jurisdiction. This proposed rule could potentially shift the regulation of such activities to individual states.
Despite the challenges posed by this legal battle, the startup in question has managed to achieve runaway success, attracting attention and interest in the market.
