Infiniti Intelligence Hourly Briefing — Oct 12, 2026 · 10:39 PM ET

Liquidity deals bring equity stakes

Jump Trading is taking stakes in Kalshi and Polymarket in return for providing market-making liquidity, according to Bloomberg reporting cited by gamblerss.com.

The proprietary trading house will receive a set amount of equity in Kalshi. The available summary does not specify the size of that holding or the terms governing its allocation.

The Polymarket arrangement has a different structure: Jump Trading’s stake can increase over time if certain conditions are met. Those conditions are not identified in the available material.

The deals link liquidity provision with ownership in the two prediction-market platforms. However, the limited reporting available does not establish how much liquidity Jump Trading will supply or what effect the arrangements will have on trading conditions.

What it means for prediction markets

• Different ownership structures: Kalshi’s arrangement provides a set equity amount, while Polymarket’s allows the stake to grow conditionally.
• Liquidity is the central exchange: The stakes compensate Jump Trading for market-making liquidity, but the available material gives no liquidity targets.
• Execution remains an open question: The report alone does not establish whether traders will see tighter spreads, greater depth or more consistent pricing.

Nevada is presenting Kalshi’s Ninth Circuit loss as a win for state gambling enforcement, according to gamblerss.com. The dispute concerns states’ authority over the platform’s sports contracts.

A ruling with consequences beyond two states

The Sept. 25 ruling allowed Ohio and Tennessee to regulate Kalshi’s sports contracts, according to gamblerss.com. Its significance also extends to Nevada.

The outlet reports that the decision cleared Nevada to enforce its gambling laws against Kalshi and Robinhood. That puts Nevada’s enforcement authority alongside the regulatory powers recognized for Ohio and Tennessee.

The available summary of the report, published Oct 12, 2026 · 10:39 PM ET, does not explain the court’s reasoning or identify subsequent enforcement steps. It therefore establishes an opening for state action, rather than documenting what Nevada has done with it.

What it means for prediction markets

• State authority is the central issue: The reported ruling permits Ohio and Tennessee to regulate Kalshi’s sports contracts and clears Nevada to apply its gambling laws.
• The implications extend beyond Kalshi: Robinhood is also named in the summary’s description of Nevada’s enforcement reach.
• Permission is not implementation: The available material does not establish whether Nevada has taken new enforcement action or whether contract availability has changed.