Prediction market platform Kalshi begins preliminary IPO talks with investment banks

Odaily Planet Daily News: According to sources familiar with the matter, prediction market platform Kalshi has disclosed that it is in early and informal discussions with investment banks regarding an IPO. A Kalshi spokesperson declined to comment.

Previously, the U.S. state of Kentucky had sued five prediction markets, including Kalshi and Polymarket, accusing them of operating 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 regulatory authority of the U.S. Commodity Futures Trading Commission (CFTC) over event contracts. (Cointelegraph)