News

New York-based ProphetX raises $35 million to expand prediction markets platform

ProphetX said the new funding will support product development, liquidity, and B2B partnerships as it expands its federally regulated prediction markets business.

Terry Rozier asks New York judge to dismiss two gambling-case charges

Terry Rozier has asked a federal judge in New York to dismiss two of the four charges he faces in an alleged sports gambling scheme, while also seeking to move the case to Florida.

Faithful Departed leads Saratoga Oaks field after Aqueduct graduate Consensus View joins Chad Brown trio

Faithful Departed returns to Saratoga as one of the top contenders for Friday’s Grade 2 Fasig-Tipton Saratoga Oaks, while Chad Brown brings a three-horse entry that includes Aqueduct maiden winner Consensus View.

New York sues Kalshi, says prediction market is illegal gambling operation

New York officials are suing Kalshi, alleging the prediction market offered unlicensed gambling in the state and allowed users under 21 to participate.

Churchview Meow IR takes Vernon Downs featured pace in lifetime-best 1:54.2

Churchview Meow IR won the $5,500 featured pace for fillies and mares at Vernon Downs on July 30, scoring in a lifetime-best 1:54.2 for driver Chris Long.

Batavia Downs adds smoke detectors and fire extinguishers to barns after NY directive

Batavia Downs Gaming says it upgraded fire safety in its 11 harness racing barns after a state directive issued in the wake of the Saratoga barn fire that killed 17 horses.

Churchill Downs to Buy Remaining United Tote Stake as It Reviews Casino Portfolio

Churchill Downs said it will acquire NYRA Content Management Solutions’ remaining 49% stake in United Tote, restoring full ownership of the wagering technology company, while separately exploring options for nine gaming properties.

Congress Signals More Scrutiny for Sports Event Contracts After House Hearing

A House Agriculture subcommittee hearing put sports event contracts under fresh scrutiny, with Rep. Dusty Johnson saying Congress should not stay silent as lawmakers and witnesses split on whether the products are regulated prediction markets or unlicensed sports betting.

Prediction market firms and casino lobby ramp up 2026 spending as Congress weighs rules

Federal lobbying around prediction markets is accelerating in 2026, with Kalshi, Polymarket-linked advocates and casino interests all spending more as Congress and the CFTC debate how event contracts should be regulated.

Washington injunction against Kalshi adds to pressure as New York case remains in focus

A Washington state judge granted a preliminary injunction blocking Kalshi from offering event contracts in the state, the latest court setback for the prediction market platform as disputes over state gambling laws continue, including in New York.