The U.S. Commodity Futures Trading Commission (CFTC) may not like election betting, but only Congress — not the regulator — has the authority to ban it, embattled prediction market purveyor Kalshi argued in a Friday court filing.
If the prediction market's traders are right – and lately, they've been right – the election results are even more bullish for crypto than they appear.
As much as a third of the prediction market's volume is inflated by traders buying and selling the same shares repeatedly, Fortune reported, citing blockchain researchers. They could be doing it to farm a future airdropped token.
One of the major breakout successes this year for the team behind layer-2 blockchain Polygon is Polymarket. But according to data, Polymarket has only brought in about $27,000 of transaction fees for Polygon PoS in 2024.