On March 12, 2026, the Commodity Futures Trading Commission published an Advanced Notice of Proposed Rulemaking (ANPRM) in the Federal Register, formally initiating the public comment phase of rulemaking concerning event contracts traded on prediction markets. The ANPRM does not propose specific rule text; it solicits comment to inform potential future agency action. Comments were due within 45 days of Federal Register publication. The controlling statutory authority is the C

On April 23, 2026, the Commodity Futures Trading Commission filed a federal civil complaint in the U.S. District Court for the Southern District of New York against Gannon Ken Van Dyke, an active-duty U.S. Army service member from North Carolina. The CFTC charges Van Dyke with insider trading in event contracts listed on Polymarket.com. The same day, the U.S. Attorney's Office for the Southern District of New York unsealed a parallel criminal indictment against Van Dyke. The

On April 21, 2026, New York Attorney General Letitia James filed civil complaints in New York state court against Coinbase Financial Markets, Inc. and Gemini Titan LLC, alleging that each company operates an unlicensed prediction market constituting illegal gambling under New York law. The lawsuits are at the complaint-filing stage; no judgment has been entered. Attorney General James grounded the complaints in New York's gambling laws and the New York Constitution, which gen

CFTC Chairman Michael S. Selig testified before the U.S. House Committee on Agriculture on April 16, 2026, presenting the agency's regulatory agenda for crypto assets, prediction markets, and commodity derivatives enforcement. The testimony, delivered approximately 100 days after Selig's swearing-in as the 16th CFTC Chairman, outlined completed actions and forward regulatory commitments across three priority areas relevant to digital asset and prediction market participants.

The United States Court of Appeals for the Third Circuit issued a published opinion on 6 April 2026 in KalshiEx, LLC v. Mary Jo Flaherty, No. 25-1922, affirming the district court's grant of a preliminary injunction restraining New Jersey state officials from enforcing state law against Kalshi's sports-related event contracts listed on its Commodity Futures Trading Commission-licensed designated contract market. The court held that the Commodity Exchange Act, 7 U.S.C. s. 2(a)

In March 2026, the Financial Conduct Authority (FCA) published its FCA Perimeter Report, which sets out areas where the FCA considers legislative change is needed to expand or clarify its regulatory remit. The report is a current-state document, not a final rule. It identifies three items directly relevant to crypto-assets, AI payments, and prediction markets. All three items are at the pre-legislative stage and require action by HM Treasury or Parliament to take effect. The

On March 12, 2026, the Commodity Futures Trading Commission published an Advanced Notice of Proposed Rulemaking (ANPRM) in the Federal Register seeking public comment on whether to amend or issue new regulations governing event contracts traded on prediction markets. The ANPRM was initiated by Chairman Michael S. Selig and represents the CFTC's formal commencement of a potential rulemaking process under the Commodity Exchange Act. The comment period is set at 45 days from pub

On April 2, 2026, the Commodity Futures Trading Commission filed complaints in federal court against Arizona, Connecticut, and Illinois, seeking declaratory judgments that federal law grants the CFTC exclusive authority to regulate event contracts and requesting permanent injunctions preventing those states from enforcing state laws against CFTC-registered Designated Contract Markets (DCMs). On April 10, 2026, the U.S. District Court for the District of Arizona granted a Temp

On March 24, 2026, Commodity Futures Trading Commission Chairman Michael S. Selig announced the formation of the Innovation Task Force (ITF), a new internal body dedicated to developing regulatory clarity for three sectors: crypto assets and blockchain technologies, artificial intelligence and autonomous systems, and prediction markets and event contracts. On April 10, 2026, Chairman Selig announced the ITF's initial staff members. The ITF operates in an advisory and coordina

On April 2, 2026, the Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) jointly issued a public statement reminding industry participants and investors of the applicable legal requirements governing prediction markets and event contracts in Canada. The statement is at the compliance-reminder stage; no new rules were promulgated on that date. The CSA and CIRO confirmed ongoing monitoring of rapidly expanding prediction market a

On March 12, 2026, the Commodity Futures Trading Commission published an Advanced Notice of Proposed Rulemaking (ANPRM) in the Federal Register seeking public comment on whether the Commission should amend or issue new regulations governing event contracts traded on prediction markets. The ANPRM is at the pre-rulemaking stage; it is not a proposed rule and imposes no new legal obligations. Comments must be submitted in writing within 45 days of Federal Register publication. T

The Commodity Futures Trading Commission filed suit on April 2, 2026, against Arizona, Connecticut, and Illinois in three separate federal district courts, seeking declaratory judgments and permanent injunctions to stop those states from enforcing state laws against CFTC-registered designated contract markets (DCMs) that operate prediction markets. On April 10, 2026, the U.S. District Court for the District of Arizona granted a temporary restraining order barring Arizona from

On March 27, 2026, Washington State Attorney General Nick Brown filed a civil lawsuit against KalshiEx LLC (Kalshi) in Washington state court. The complaint alleges that Kalshi operates an online betting platform in violation of the Washington State Gambling Act, RCW Chapter 9.46, and the Washington Consumer Protection Act, RCW Chapter 19.86. The action is at the enforcement stage; no judgment has yet been entered. The AG seeks an injunction to halt Kalshi's operations in Was

On February 17, 2026, the Commodity Futures Trading Commission filed an amicus curiae brief in the United States Court of Appeals for the Ninth Circuit in North American Derivatives Exchange, Inc. et al. v. Nevada Gaming Control Board et al. The CFTC filed the brief at the appellate stage, urging the court to affirm that federal commodities law preempts state gaming regulation of CFTC-registered prediction market contracts. The filing is a formal assertion of exclusive federa

On February 25, 2026, the CFTC's Division of Enforcement issued Press Release No. 9185-26, a formal advisory addressing prohibited trading practices on prediction markets regulated under the Commodity Exchange Act (CEA). The advisory followed public disclosure of two enforcement cases involving insider trading and misuse of nonpublic information on KalshiEX LLC, a Designated Contract Market (DCM). The advisory is effective immediately; it does not amend existing regulations b

On March 17, 2026, Arizona Attorney General Kris Mayes filed a 20-count criminal information against KalshiEx LLC and Kalshi Trading LLC (collectively, Kalshi) in Arizona state court. The charges allege that Kalshi operated an unlicensed wagering business in Arizona and accepted bets on Arizona and federal elections. Kalshi had preemptively filed suit against the State of Arizona on March 12, 2026, seeking to avoid enforcement of state law. Arizona law prohibits operating an

On March 12, 2026, the Commodity Futures Trading Commission's Division of Market Oversight issued a prediction markets advisory (Release No. 9193-26) addressing the listing for trading of event contracts on designated contract markets. The advisory is a staff-level guidance document and is not a final rule or binding regulation. It takes effect immediately upon issuance and applies to all existing and prospective DCMs listing event contracts. The advisory identifies three con

On March 12, 2026, the Commodity Futures Trading Commission published an Advanced Notice of Proposed Rulemaking (ANPRM) seeking public comment on whether to amend or issue new regulations governing event contracts traded on prediction markets. The ANPRM was issued under the Commission's authority pursuant to the Commodity Exchange Act (CEA) and represents the start of a formal rulemaking process. The document is at the proposed rulemaking stage; no final rule has been adopted

Senators Richard Blumenthal (D-CT) and Andy Kim (D-NJ) introduced S.4060, the Prediction Markets Security and Integrity Act of 2026, in the United States Senate on March 11, 2026. The bill was read twice and referred to the Senate Committee on the Judiciary on the same date. It is currently at the introduction stage and has not been passed by either chamber of Congress. The bill's stated purpose, set out in its long title, is to provide national safeguards to prevent abuse an