Prediction market platform Kalshi begins early IPO talks with investment banks

Odaily Odaily reported that sources say prediction market platform Kalshi has disclosed it is engaging in early, informal discussions with investment banks regarding a potential IPO. A Kalshi spokesperson declined to comment.

Previously, the state of Kentucky filed a lawsuit against five prediction market operators, including Kalshi and Polymarket, accusing them of running unlicensed illegal sports betting and gambling platforms. At least 17 other states have also taken prediction market operators to court. The related disputes involve the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC) over event contracts. (Cointelegraph)