Spotify Eliminates Fraudulent Streams Amid Kalshi Betting Links
The music streaming service this week deleted half a million streams of Malcolm Todd’s 'Earrings.'
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The music streaming service this week deleted half a million streams of Malcolm Todd’s 'Earrings.'
Among the three, Kalshi saw the largest month-over-month increase in volume, growing 87.4% to $31.5 billion from $16.81 billion.
The amended complaint, granted by a judge on Tuesday, included allegations that Kalshi targeted users under 21 years old through social media and marketing on university campuses.
A Michigan judge granted a restraining order preventing the prediction market from offering sports-related wagers for the next 14 days.
Jurisdiction over prediction market platforms is an ongoing dispute between the CFTC and multiple state regulators.
A Michigan Judge has temporarily blocked Kalshi from offering sports betting contracts to residents, escalating the state-federal fight over prediction markets and gambling laws.
Illinois now a key battleground in fight over prediction market sports bets.
The broker said operational consolidation is blurring the lines between exchanges, brokerages and sportsbooks, creating conditions for acquisitions across the prediction market ecosystem.
As prediction markets notch record trading volumes, Kalshi is ramping up its marketing push through a high-profile FIFA World Cup deal.
The prediction market seeks a valuation near double the $22 billion it hit last month, as a federal-state fight over regulation escalates.
Kalshi's reported valuation reflects the firm's rapid growth, as it reported a $5 billion valuation last October.
Kalshi is reportedly in talks to raise new capital at a $40 billion valuation, reflecting growing investor confidence in regulated prediction markets.
The prediction market operator, which is eyeing a potential public debut in 2027, could close a new funding round in Q3, according to a Financial Times report.
The prediction markets company claimed that it would be “irreparably harmed” when an Illinois law signed as part of a budget package goes in effect on July 1.
Kalshi's aggregated OI reached a record $1.16 billion last week, the first time the platform’s OI surpassed the billion-dollar mark.