Kalshi and Polymarket's US surge is pulling volumefrom traditional sportsbooks, with operators now competing on event liquidity and pricing precision rather than sports exclusivity.
Connecticut hit Polymarket, Robinhood, Coinbase and six other prediction markets with cease-and-desist orders and subpoenaed 29 payment, data and media firms.
Novig gave Sydney Sweeney equity instead of a fee for its Just Sports campaign, launched September 9 as Kalshi and Polymarket ran rival celebrity NFL ads.
DraftKings ran geo-targeted Predictions ads in California, Texas, Georgia and Florida on August 25, states where it has no sportsbook licence, as suits mount.
The Ninth Circuit ruled Kalshi's sports contracts aren't federally exempt swaps, backing Nevada's power to bar them and splitting from the Third Circuit.
Sportradar and Polymarket expanded their data deal on 27 August 2026 to cover 20-plus leagues and 300,000 matches a year, adding Bundesliga and tennis majors.
Kalshi faces $120,000-a-day fines in Nevada and $500,000-a-day fines in Michigan this week over missed geofencing deadlines for its prediction markets.
Polymarket bought Yankee Stadium signage on 6 August as the Yankees prediction market partner, weeks after Kalshi renamed an MSG concourse for itself.
Genius Sports signed Polymarket on 4 August and Kalshi on 5 August as prediction market data clients, following Sportradar into selling both sides of the fight.
The CFTC warned Kalshi and Polymarket on 7 August to stop showing sports contracts as moneyline odds, giving regulated exchanges until 31 August to confirm compliance.
Sportradar signed Kalshi and Polymarket as prediction market data clients in its Q2 2026 results, positioning itself as neutral supplier to both sides.
IG Group agreed to buy Underdog for up to $1.3 billion on 30 July 2026, betting on US prediction markets and a licence stack spanning broker to clearing house.
