By The Weekly Edge desk ·
PlayUSA reported, citing Westlaw Today, that a Connecticut federal judge denied Kalshi’s request to stop state action against sports event contracts. The judge found the contracts were not swaps pre-empted by federal law.
Connecticut can continue applying its gambling laws to Kalshi’s sports contracts.
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The partnerships give the tribes customer-facing apps while Kalshi operates the underlying exchange and settles transactions.
Four additional tribal agreements give tribes app ownership and customer management while Kalshi supplies exchange services.
Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
The agreements give Kalshi advertising exposure and fan engagement opportunities across five MLB teams.
JPMorgan’s estimate gives investors potential additional EBITDA from Genius Sports’ agreements with Kalshi and Polymarket.
The agreements connect Genius Sports with two prediction market platforms.