Prediction market platform Kalshi begins preliminary discussions with investment banks regarding IPO

Odaily Odaily reports that sources familiar with the matter reveal prediction market platform Kalshi has disclosed it is engaging in early, informal discussions with investment banks regarding an IPO. A Kalshi spokesperson declined to comment.

Previously, the U.S. state of Kentucky has filed lawsuits against five prediction markets, including Kalshi and Polymarket, accusing them of operating unlicensed illegal sports betting and gambling platforms. At least 17 other states have taken prediction market operators to court. The related controversies involve the regulatory authority of the U.S. Commodity Futures Trading Commission (CFTC) over event contracts. (Cointelegraph)