5590 stories by Todd Shriber
Report: Kalshi Considering 2027 or 2028 IPO
Kalshi reportedly considering an initial public offering (IPO) It’s believed that won’t happen until late next year or early 2028 The company was recently valued at $22 billion Kalshi, the largest domestic prediction market operator, is reportedly considering an initial public offering...
Schwab Joins Prediction Market Party, But Sports Not on the Agenda
Charles Schwab is entering the prediction market business with yes/no derivatives on the S&P 500 Index The brokerage firm is partnering with Cboe Global Markets Sports event contracts not part of the equation Charles Schwab (NYSE: SCHW), one of the largest US...
Churchill Downs’ $85M Preakness Bid Thwarted by Maryland
The state of Maryland is exercising its right to buy the intellectual property rights of the Preakness Stakes Churchill Downs previously bid $85 million for those assets The state merely matched the gaming company’s offer The state of Maryland has exercised its...
DraftKings Prediction Volume Spikes 90% as World Cup Ignites Platform
The ongoing World Cup has driven an 87% surge in trading volume on the DraftKings Predictions platform since the tournament kicked off The global soccer event is serving as a massive customer acquisition vehicle, with the number of first-time users on the...
GOP Rep. Steil Introduces Trump-Backed Bill to Ban Lawmakers From Prediction Markets
Steil, a Wisconsin Republican, introduces a provision to ban members of Congress and their families from trading political event contracts The proposal has the support of President Trump and House Speaker Mike Johnson Some political observers believe it’s already in jeopardy if...
Stifel: Kalshi Commands 90% of U.S. Prediction Market, But Rivals Are Closing In
Kalshi continues holding dominant share of US prediction markets Regulated prediction volume jumped 21% to $20.4 billion in May DraftKings, Polymarket and others adding to already ultra-competitive landscape, with more parties looking to join in Kalshi continues its vice grip on the...
PENN Entertainment Shareholders Back Board Declassification Proposal
PENN Entertainment investors approve union proposal to declassify casino operator’s board of directors, pushing for annual elections instead of staggered multi-year terms This marks the second time in the company's history that investors have backed a declassification initiative However, the PENN board...
Crypto-Driven Trades Push Prediction Market Volume to New Heights
Sports are still the primary driver of prediction market volume However, fast resolution cryptocurrency trades are gaining momentum Some critics assert those trades are another form of gambling While sports event contracts remain the primary driver of prediction markets' soaring volume, the...
Novig Secures Historic CFTC Nod for 50-State Prediction Market
The CFTC has granted Novig Designated Contract Market (DCM) status, allowing it to bypass state-by-state licensing and launch a regulated sports prediction exchange across all 50 states Approved in just five months, the quick turnaround marks one of the fastest corporate designations...
Coinbase Upgrades Prediction Suite With ‘Crypto Binaries’ and Parlay-Style Combos
The cryptocurrency brokerage is adding combos or parlays to its prediction market offering It’s adding timed crypto trades to the mix Coinbase partners with Kalshi Coinbase Global (NASDAQ: COIN) today (June 16) announced an expansion of its prediction market platform, including the...
