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Election prediction markets face federal crackdown as midterm volume exceeds 1.4 billion dollars, WSNext reports
- Election prediction markets face federal crackdown as midterm volume exceeds 1.4 billion dollars, WSNext reports — WSNext reports on October 30 that midterm prediction market volume has surpassed 1.4 billion dollars and could exceed 2 billion dollars by Election Day, drawing escalated federal oversight. The report says the CFTC has filed lawsuits against 10 states in 2026 over state restrictions, arguing federal regulation preempts state gambling laws for designated contract markets such as Kalshi. (WSNext)
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