Today in prediction market news, we’re tracking the biggest developments across the industry in real time, from fresh lawsuits and insider trading allegations to regulatory battles, market-moving legislation, and other major stories shaping prediction markets, sports event trading, and regulated forecasting platforms. Follow our live blog throughout the day for breaking updates, market reactions, and analysis from across the prediction markets, crypto, and iGaming sectors.
Robinhood hit with new California class-action lawsuit
NEW: Another class-action lawsuit filed in California alleges Robinhood’s sports event contracts amount to illegal gambling and mislead consumers @RWW pic.twitter.com/xWb6PogEhQ
— Suswati Basu (@suswatibasu) June 17, 2026
Robinhood suffers similar court setback
Robinhood's motion for preliminary injunction was also denied by Michigan federal judge Paul Maloney, who earlier today denied Polymarket's PI motion. The two opinions are virtually identical. The same judge will also be deciding Michigan's motion to remand vs. Kalshi. pic.twitter.com/BqKqVAEbLj
— Daniel Wallach (@WALLACHLEGAL) June 18, 2026
New York cites Polymarket loss in Kalshi fight
New York is adding fresh ammunition to its case against Kalshi. State attorneys have filed a recent Michigan federal court decision that denied Polymarket’s request for a preliminary injunction, arguing the ruling supports New York’s position.
CFTC challenges Illinois prediction market fee
CFTC amends lawsuit vs. Illinois to challenge new state law requiring prediction markets to pay a transaction fee to Illinois ranging from 1.75% to 3.5% of the value of each sports-event contract, and files a motion for preliminary injunction to block implementation of new law. pic.twitter.com/8CrjiqqgNg
— Daniel Wallach (@WALLACHLEGAL) June 18, 2026
Betr COO turns Kalshi into a slot machine
Complaint alleges market manipulation on Kalshi
🚨 Hoosier Breaking News: Kalshi Investigating Sen. Jim Banks and Indiana House Rep. Andrew Ireland for Alleged Insider Trading on Secretary of State Race
— Hoosier Enquirer (@HoosierEnquirer) June 17, 2026
Kalshi has confirmed to the Hoosier Enquirer that it is investigating U.S. Senator Jim Banks and Indiana State… pic.twitter.com/oY1dCE14de
CME prepares CFTC lawsuit over perpetual futures
#NEW @CMEGroup to sue CFTC over the approval of perpetual futures as soon as tomorrow.
— CNBC's Fast Money (@CNBCFastMoney) June 17, 2026
Outgoing CEO Terry Duffy speaks to Fast Money exclusively on the lawsuit and his decision to retire. https://t.co/g6Kjz4c5bC
Kentucky expands legal fight against prediction markets
Welcome to today's live blog. Kentucky is turning up the heat on prediction markets. The state is now involved in legal battles with VGW, Kalshi, and Polymarket, arguing their offerings violate state gambling laws. The lawsuits add to growing regulatory pressure on the industry as questions around oversight, taxation, and market integrity continue to mount.
