SiaPredict DailySeptember 6, 2026

Today's top 10

1. 1
   RegulatoryCatch-up

   New Jersey petitions Supreme Court to resolve state-versus-CFTC jurisdiction fight

   NJ AG Jennifer Davenport filed a roughly 332-page cert petition on September 2 asking the Supreme Court to decide who regulates sports-event contracts, citing the split between the Third Circuit's preemption ruling for Kalshi here and the Ninth Circuit's August 28 ruling for Nevada. It is the first Supreme Court filing on the merits question in the 2026 prediction-markets litigation wave, and compliance teams should treat every pending circuit appeal as provisional until the Court decides whether to grant cert.

   NPR
2. 2
   RegulatoryCatch-up

   Michigan judge converts TRO into preliminary injunction against Kalshi

   Ingham County Circuit Judge Rosemarie Aquilina found on September 1 that Michigan faces irreparable harm from what she called a 'sports betting operation masquerading as an investment opportunity,' citing underage users and bypassed problem-gambling safeguards. The order requires state-licensed geofencing and carries a $500,000-per-day noncompliance penalty, the largest daily exposure of any state order to date.

   The Block
3. 3
   RegulatoryCatch-up

   Kalshi and Polymarket pull sports injury-duration contracts after informal CFTC request

   Kalshi removed athlete injury-duration markets around September 1 after a CFTC source told Sportico the agency asked it to, following Polymarket's withdrawal of comparable NFL player-availability contracts around August 31. No formal order or rule has issued, but both withdrawals track the CFTC's June NPRM view that event-contract rules should generally bar player-injury contracts on manipulation and medical-privacy grounds, a signal worth watching ahead of the NFL season.

   Sportico
4. 4
   RegulatoryCatch-up

   CFTC moves to dismiss CME's challenge to Kalshi's bitcoin-perpetuals approval

   The CFTC argued on September 2 that CME lacks standing to challenge the Commission's May approval of Kalshi's and Coinbase's bitcoin perpetual futures, since the same order lets any designated contract market, including CME, list a competing product. The dismissal bid frames CME's suit as a competitive grievance rather than an exclusion claim, and a ruling will shape how far CFTC-approved product categories can expand without further rulemaking.

   The Block
5. 5
   RegulatoryCatch-up

   Kalshi accuses Washington AG of 'selective non-enforcement' against rival platforms

   In an August 28 letter made public September 2, Kalshi's head of litigation argued Washington singled it out for injunctive relief while leaving Polymarket's unregistered offshore platform free to offer the same prohibited categories to state residents. Washington's AG office responded that it need not prosecute every operator simultaneously to obtain judgment against one, calling Kalshi the largest entity of its kind; the letter does not alter the existing injunction or September 2 geofencing deadline.

   Covers.com
6. 6
   RegulatoryCatch-up

   Trump says CFTC is working to bring Hyperliquid onshore through a Bitnomial-routed structure

   President Trump said CFTC Chair Michael Selig is working to bring Hyperliquid into the US 'in a fully compliant and legal fashion,' with the operative structure routing a subset of Hyperliquid-linked perpetuals through Payward's CFTC-regulated Bitnomial exchange rather than granting direct access to the offshore venue. Former SEC counsel Ashley Ebersole estimated the needed rule revisions could still take 10-12 months, so any US product will be a materially constrained wrapper even with presidential-level backing accelerating the timeline.

   The Block
7. 7
   IndustryCatch-up

   Kalshi seeks CFTC approval for a never-expiring oil futures contract

   Kalshi filed to list a perpetual, non-expiring oil-linked contract on September 2, pushing a product structure popular in offshore crypto markets into traditional energy trading and into the same 24/7-market debate the CFTC has been fielding comment on since June. The filing came one day before Polymarket launched its own perpetual oil product, underscoring how quickly the two platforms are now matching each other's product launches.

   Bloomberg
8. 8
   IndustryCatch-up

   Polymarket launches leveraged perpetual futures across oil, crypto, and metals

   Polymarket opened its 'Polymarket Perps' product on September 3 with 10 markets that expanded to 67 within hours across four asset classes, offering up to 20x leverage with no contract expiry. The rapid scale-up shows Polymarket treating perpetuals as a core growth line rather than a pilot, raising the same product-risk and CFTC-jurisdiction questions already in play for Kalshi's parallel filing.

   Bloomberg
9. 9
   IndustryCatch-up

   LeBron James teases a Polymarket partnership after ending his DraftKings tie-up

   LeBron James posted a September 5 teaser captioned 'Welcome to Polymarket HQ. Coming soon,' with his team signaling a larger football-season campaign and confirming his prior DraftKings endorsement has ended. It gives Polymarket a marquee-athlete endorsement as the platform competes with Kalshi on brand visibility, though the move drew immediate social-media criticism over an athlete promoting a wagering-adjacent product.

   The Block
10. 10
    IndustryCatch-up

    Kalshi and Polymarket's combined volume falls 15% in August, first monthly decline in a year

    Combined trading volume fell to $45.33 billion in August as the World Cup-driven surge normalized, with Kalshi down 7.3% from July to $37.17 billion and Polymarket down 36.7% to $8.16 billion. It is the first month-over-month decline for the combined platforms in a year, though both remain well above May's $25.66 billion baseline.

    The Block