Today in prediction market news, we’re tracking the biggest stories as they unfold, including a pair of new legal challenges facing Polymarket, a U.S. Army soldier’s effort to dismiss the CFTC’s event-contract lawsuit before trial, changes to New Jersey’s prediction market legislation, newly posted CFTC filings from Novig, and Kalshi’s FIFA World Cup Winner market surpassing $1 billion in trading volume. Follow along for live updates on prediction markets, regulation, sports event trading, crypto, and the companies shaping the industry’s next chapter.
Prop firms get a prediction market upgrade
Prediction markets are finding yet another new home. PropAccount.com has added prediction markets as a fully supported asset class to its white-label proprietary trading platform, allowing prop firms to offer event-based trading challenges alongside forex, futures, crypto, and equities without building separate infrastructure. In other words, if your prop firm was wondering what to add after Bitcoin and gold, the answer might just be "Who wins the election?"
Sportsbooks are sending users to Kalshi
Apptopia: "The cross-app flow runs one direction. The share of DraftKings users who also opened Kalshi rose 45% from June 1 to June 22, and FanDuel-to-Kalshi rose 35%. Kalshi users trialing the sportsbooks actually declined over the same stretch." pic.twitter.com/Afluqyk7Vo
— Mick Bransfield (@MickBransfield) July 7, 2026
Novig publishes new CFTC filings
Novig has published a fresh batch of CFTC filings on its corporate website, including documents outlining its liquidity provider program, referral incentives, new member deposit program, points program, specified contracts program, and updates to its Ludlow Rule framework.
New set of CFTC filings just posted on the @Novig exchange corporate website. Link in reply. pic.twitter.com/9SBTRU24LG
— Fairplaygov (@fairplaygov) July 6, 2026
Kalshi's World Cup market tops $1 billion
For perspective, Kalshinomics CEO Aaron Brogan noted that the highest-volume non-sports market—the 2028 Democratic nominee contract—has traded about $143 million. The milestone underscores just how powerful global sporting events have become for regulated prediction markets, with traders piling into contracts more than a year before kickoff.
FIFA World Cup Winner crossed $1B in volume today on @Kalshi
— aaron (@probaaron) July 6, 2026
for context, the highest-volume non-sports market is 2028 Democratic nominee at $143M pic.twitter.com/hoiABNOPXX
New Jersey softens prediction market tax plan
Gone are the hefty 29.75% tax rate, licensing requirements, and million-dollar daily fines that initially grabbed headlines. The move suggests lawmakers may be taking a more measured approach while the courts sort out who actually gets to regulate prediction markets.
It doesn't mean the Garden State is waving the white flag—just that it's putting away the bazooka and picking up a calculator instead.
Polymarket faces lawsuit over Bitcoin market resolution
Polymarket disputes the allegations, but the case is likely to renew debate over who gets the final say when prediction markets meet messy real-world outcomes. Another day, another courtroom.
#Polymarket lawsuit alleges #Bitcoin market rules changed after outcome occurred - https://t.co/X8dRcCSFor @RWW
— Suswati Basu (@suswatibasu) July 7, 2026
US soldier challenges CFTC in Polymarket lawsuit
The civil case against U.S. Army Special Forces soldier Gannon Ken Van Dyke is already heading for an early legal showdown after his lawyers asked a federal judge to fast-track consideration of their motion to dismiss the CFTC's lawsuit before trial. Their argument? The agency is stretching the Commodity Exchange Act beyond its limits, and the Polymarket contracts at the center of the case aren't swaps at all.
Safe to say, today's opening bell is being rung in a courtroom.
US soldier seeks swift dismissal amid #Polymarket classified betting fraud legal battle - https://t.co/5T617Ms5ya @RWW
— Suswati Basu (@suswatibasu) July 7, 2026
