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Finance

Prediction Markets Are Sports Betting With Better Lawyers

Kalshi calls its sports wagers commodity event contracts. Ninety percent of its trading volume is still sports bets. The legal fight between federal regulators and state gaming commissions is real, but the practical question for you is simpler: are you gambling with fewer consumer protections than you think?

By Sadie Park · 3 min read

Sports

Prediction Markets Won't Kill Sportsbooks. They'll Force Them to Compete

Prediction markets hit $44 billion in notional volume in 2025 and Novig just raised $75 million to keep pushing. But the global sportsbook market is $165 billion and still growing. The real story isn't replacement; it's what happens when FanDuel decides it wants a CFTC license.

By Jax Moreno · 4 min read