Kalshi wins injunction, Fanatics buys exchange, tastytrade enters the arena, today in prediction market news LIVE

One courtroom victory is already echoing in another. Polymarket US has filed a notice of supplemental authority in its Rhode Island lawsuit, arguing that last week's Minnesota ruling—which granted preliminary injunctions to Polymarket US, Kalshi and the CFTC—strengthens its own bid to block state enforcement. The filing says the Minnesota court found the Commodity Exchange Act likely preempts state attempts to regulate federally overseen event contracts, reinforcing Polymarket's argument that the CFTC has exclusive jurisdiction over swaps traded on designated contract markets.

Prediction markets are getting their own version of parlays. Aristotle Exchange (UDX) has filed a self-certification with the CFTC for ENTITYCOMBO, a new product that lets traders combine two or more existing event contracts into a single wager on whether every selected outcome occurs. Rather than creating new underlying markets, the contract simply packages previously certified contracts together, with payouts determined by the combined outcomes. UDX says it plans to begin listing the product as early as July 29. 

The race to bring prediction markets into mainstream investing just picked up another entrant. Online brokerage tastytrade has launched CFTC-regulated prediction markets, allowing customers to trade event contracts on everything from Federal Reserve decisions and inflation data to Bitcoin, oil and the VIX—all without leaving their brokerage account. Powered by Apex Fintech Solutions, the 24/7 offering makes tastytrade the first broker to use Apex's new futures commission merchant infrastructure. The move follows similar launches from Robinhood and moomoo.

The long-running battle over empty seats at America's top financial regulators may finally be moving. According to a report from Semafor's Eleanor Mueller, Senate Minority Leader Chuck Schumer has submitted two names each for vacancies at the CFTC and SEC to the White House after months of political wrangling tied to crypto legislation. The identities of the candidates remain under wraps, with sources saying lawmakers want to avoid public scrutiny before the nominees receive formal consideration. For the prediction markets industry, any new CFTC commissioners could play a pivotal role in shaping the agency's regulatory direction in the years ahead.

News: Schumer has sent the White House two names each for the SEC and CFTC, people familiar with the move tell me, following months of finger-pointing over the empty seats as part of Senate negotiations over the crypto bill.

The nominees' identities remain unclear: "Nobody wants…

— Eleanor Mueller (@Eleanor_Mueller) July 27, 2026

What do you do when you're hosting the world's first prediction markets conference and thousands of attendees need to make it to New York? Apparently, you bet on disaster. NEXTPredict has executed what it calls the first-ever conference hedge through Kalshi, paying roughly $12,000 for up to $3 million in protection if more than half of flights into JFK are cancelled during its October event. Susquehanna is making the market, turning a weather-related travel headache into a tradable event contract. 

We just used a prediction market to hedge the financial risk of our own summit.

As first reported by @Fortune's @jeffjohnroberts, NEXTPredict executed the first-ever use of a prediction market to hedge an investment for a major summit through @Kalshi, with Susquehanna serving as…

— NEXTpredict (@nextpredictio) July 28, 2026

The man behind Dodd-Frank has entered the prediction markets debate—and he's not exactly applauding the CFTC's latest performance. Former Sen. Chris Dodd, whose landmark 2010 law expanded the agency's authority over derivatives, argues regulators are straying far beyond what Congress intended. In comments submitted on the CFTC's prediction markets proposal, Dodd says lawmakers never meant to turn the commission into America's gambling regulator, adding that existing federal gaming laws were already in place.

Just days before Minnesota was set to make operating or promoting many prediction markets a felony, a federal judge hit the pause button. In a significant win for Kalshi, Polymarket and the CFTC, the court granted a preliminary injunction blocking the state's first-in-the-nation ban while the legal fight continues.

The ruling keeps the platforms online in Minnesota—for now—and marks another chapter in the growing battle over whether prediction markets belong under federal derivatives law or state gambling rules. Grab your popcorn (or your event contracts): this regulatory saga is proving almost as unpredictable as the markets themselves.