Today in prediction market news, we’re tracking the biggest developments across the industry in real time, including new scrutiny surrounding Polymarket’s U.S. promotion practices, Minnesota’s legal challenge accusing the Trump administration of rapidly deregulating prediction markets, Underdog’s first CFTC rule filings following its Aristotle Exchange acquisition, Charles Schwab’s entry into the prediction markets business, and fresh federal legislation targeting the sector. Follow our live blog throughout the day for breaking updates, market reactions, and analysis from across the prediction markets, sports event trading, crypto, and regulated forecasting industries.
Ex-Wealthsimple lawyer sees regulatory path for prediction markets in Canada
He told ReadWrite: “The announcement shows that the Canadian securities regulatory framework can work as a real path to market for prediction market platforms. From the perspective of Canadian market participants, they'll be able to access Kalshi's liquidity and have access to a broad set of contracts, even with the category restrictions. And they'll be doing so through a CIRO-registered dealer with the investor protection framework that comes with it.
"On the exchange side, Kalshi is a CFTC-registered designated contract market, so the contracts themselves are subject to the regulatory framework of the agency that has been at the forefront of developing supervision for prediction markets.
£The announcement doesn't change the analysis on sports. The offering is limited to economic indicators, financial markets, and climate, the categories CIRO has authorized. Kalshi's sports and election contracts aren't coming through this channel, at least right now.
"So, as far as sports prediction markets in Canada go, the picture is the same. If sports event contracts come to Canada, the more likely path still runs through provincial gaming regulators.”
Kalshi pushes back on ‘slot machine’ claims
Kalshi executive Brandon Beckhardt dismissed the criticism, arguing the tool was built independently using market data and could have used any underlying asset. He added that Kalshi quickly banned the creator’s access for violating platform rules and potentially breaking the law.
Do you think people are that stupid?
— Brandon Beckhardt (@beckhardt) June 18, 2026
Some guy built a website with slot machines, using our markets as a seed. It has nothing to do with prediction markets and he could have done that with stock prices, pork belly future prices, or a random number generator.
Also we banned his…
Underdog makes CFTC filing move
The filings offer an early look at how Underdog plans to integrate the exchange and build out its event contracts business under federal oversight.
Underdog submitted its first rules filings to the CFTC following acquisition of Aristotle Exchange: amended rulebook, fee schedule & market maker program. pic.twitter.com/e0YGQPTnoh
— Fairplaygov (@fairplaygov) June 19, 2026
Utah cites Michigan losses in Kalshi fight
Utah @AGDerekBrown offers 5 reasons why the Michigan federal district court's denial of Polymarket's and Robinhood's motion for preliminary injunction--which "addressed and rejected the same legal arguments"--compels the same result on Kalshi's motion for preliminary injunction:… pic.twitter.com/QpRCOJ1Rnf
— Daniel Wallach (@WALLACHLEGAL) June 19, 2026
Minnesota takes aim at Trump in prediction market battle
Minnesota defends prediction market restrictions amid federal court challenge - @RWW https://t.co/RP9a0ngxlh #PredictionMarkets
— Suswati Basu (@suswatibasu) June 22, 2026
Polymarket faces questions over viral marketing campaign
Fresh scrutiny is landing on Polymarket after a Wall Street Journal investigation alleged the company paid creators to film fake prediction market wins using lookalike websites rather than real trades. The report claims some videos portrayed profitable bets that would have actually lost money, while overseas "clippers" helped amplify the content to U.S. audiences.
Polymarket says it remains committed to transparency and plans to review its promotional materials following the allegations.
