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Prediction Markets Face a Full-Court Press

Kalshi and Polymarket may have a wild road ahead as states wage war on sports markets and the public reckons with insider bets.
Prediction Markets Face a Full-Court Press
David Christopher David Christopher
May 1, 2026 • 5 min read
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Prediction markets have been facing an awfully tough moment in recent weeks.

While platforms like Kalshi and Polymarket are fighting back with mixed success, critics argue that the platforms are practically indistinguishable from sports gambling and are exploiting gaps between federal regulation and state gambling laws. The massive upside potential for these platforms will require winning the legal battles ahead while also challenging negative sentiment around prediction market integrity.

The 2024 Presidential election may have sold the world on prediction markets' promise, but betting on sports has increasingly become the top entry point for users.

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Prediction Markets Face a Full-Court Press
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Polymarket Polymarket Dune Dune
David Christopher

Written by David Christopher

647 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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