SiaPredict DailySeptember 10, 2026

Today's top 5

1. 1
   Regulatory

   Underdog completes five-state suit wave, adding Washington, Ohio, and Wisconsin

   Underdog's CFTC-registered exchange subsidiary sued Washington AG Nick Brown, Ohio AG Andy Wilson, and Wisconsin AG Josh Kaul on September 8, completing a five-state wave that also named Massachusetts and New Mexico the same day. All five suits seek declaratory judgments that the Commodity Exchange Act preempts state gambling law as applied to Underdog's exchange, following the same first-strike template Kalshi and Novig have already used against several of these same officials. For compliance teams, it is another data point that CFTC registration is increasingly being used as grounds to sue state regulators pre-emptively rather than wait for an enforcement action.

   Sports Betting Dime

   Sia's Take

   Prediction market operators, both small and large, are taking the fight directly to states, suing them simultaneously while facing mounting legal pressure at the state and local level. These legal actions seemingly allow licensed prediction markets to maintain somewhat equal footing in the ongoing oversight battle over prediction markets regulation and allow them to be on the offensive front rather than perpetually playing defense.

2. 2
   Regulatory

   Hyperliquid Policy Center asks court to dismiss CME's suit over Kalshi's bitcoin-perpetual approval

   The Hyperliquid Policy Center, represented by former Solicitor General Elizabeth Prelogar, filed an amicus brief on September 9 arguing CME lacks standing to challenge the CFTC's approval of Kalshi's BTCPERP contract, and asked the court to dismiss CME's suit outright. The brief frames the CFTC's approval as having expanded the market rather than diverted business from an incumbent, warning that a win for CME would invite litigation against any future CFTC product approval.

   The Block

   Sia's Take

   This is the first example of an outside party weighing in against CME, adding pressure on the D.C. district court as the case tests how far competitors can challenge CFTC approvals of a rivals' products.

3. 3
   Industry

   Kalshi's election and politics markets go live on DoubleZero's low-latency data network

   Kalshi's elections and politics contracts became available on DoubleZero Edge on September 9, giving institutional and automated traders direct access to full order-book depth ahead of the November midterms.

   The Block

   Sia's Take

   This move is a distribution and infrastructure expansion rather than a new license or regulatory filing, but it signals Kalshi is investing in professional-grade market-data plumbing as political-event trading volume grows heading into the midterm cycle.

4. 4
   Industry

   Kalshi and Catalist Sports reannounce streaming deal with added compliance language

   Kalshi and Catalist Sports reannounced their multi-year live-streaming and data partnership on September 9, three weeks after the original announcement vanished from the internet within hours of first posting. The commercial terms are largely unchanged, exclusive streams and low-latency data across more than 65,000 tennis matches a year plus soccer and basketball, but the new version adds language making the rights "subject to applicable regulatory requirements," a compliance hedge absent from the original.

   iGaming Future

   Sia's Take

   This action from Kalshi and Catalist Sports is a clear example of the degree of malleability prediction market compliance programs need to have given the ongoing pending actions over regulation at the state, local and federal oversight levels.

5. 5
   Industry

   NFL's Week 1 opener sends Kalshi's Patriots-Seahawks market to $105 million in 24 hours

   Kalshi's Patriots-Seahawks contract jumped from $5.8 million to $105.5 million in displayed volume within 24 hours of listing, nearly quadrupling last year's opening-week total and pushing combined Kalshi-Polymarket volume on the game past $110 million. The spike lines up with industry projections of roughly $57 billion in NFL-linked prediction-market volume for the 2026-27 season, underscoring how central sports contracts remain to platform growth even as leagues and regulators push back on specific sports-linked products.

   DeFi Rate