SiaPredict DailySeptember 11, 2026
Top line
Connecticut escalated its crackdown on prediction markets on September 10, ordering nine operators, including Polymarket, Robinhood, Coinbase, and Crypto.com, to halt sports event contracts and issuing nearly 30 subpoenas, while European regulators separately warned that Kalshi and Polymarket lack the authorization needed to operate in the EU. On the corporate side, Polymarket named its first chief financial officer and the CFTC cleared Kalshi to list gold and silver perpetual futures, extending its post-crypto product line.
Today's top 6
- 1Regulatory
Connecticut orders nine operators to halt sports event contracts, issues nearly 30 subpoenas
Connecticut's Department of Consumer Protection issued cease-and-desist orders on September 10, 2026 to nine prediction-market operators, Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini, and Underdog Predict, directing each to stop advertising or offering sports event contracts to Connecticut residents and to let existing customers withdraw funds. The agency simultaneously issued nearly 30 subpoenas (nine to licensed service providers, fifteen to media organizations, five to app-store and payment companies), and Commissioner Bryan Cafferelli said the contracts are "indistinguishable from sports wagering" and pointed to a prior federal-court ruling as vindicating the state's authority to enforce its gambling laws.
NBC ConnecticutSia's Take
Connecticut is the most recent example of a state taking action against sports-specific markets within their jurisdiction. While this may not have any immediate affect the operation of Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini, and Underdog Predict's operation of sports-related contracts in Connecticut, it is a clear message to all prediction market operators that geofencing may become a necessity to operation should the United States Supreme Court ultimately rule in favor of state-level regulation next year.
- 2Regulatory
CFTC clears Kalshi to list gold and silver perpetual futures
The CFTC approved Kalshi's application, filed in July, to list gold and silver perpetual futures, and the exchange began trading the contracts the week of September 10, 2026. KalshiClear chief risk officer Udesh Jha cited investor demand for precious metals tied to inflation; the approval is Kalshi's first non-crypto perpetual product, following contracts tied to cryptocurrencies approved in May that have generated roughly $44 billion in notional volume, and the company is separately seeking CFTC approval for equity-index, copper, and currency perpetuals.
PYMNTSSia's Take
While states are taking active actions to curb prediction market operations within their jurisdictions, the CFTC is indicating, through its continued actions, that it favors operational expansion for all prediction market operators nationwide.
- 3Regulatory
ESMA says Kalshi and Polymarket lack the authorization required to operate in the EU
The European Securities and Markets Authority's Risk Monitor 2/2026, published September 11, 2026, stated that marketing and selling event contracts in the EU generally requires an EU authorization that "the largest prediction market platforms currently do not hold," and questioned why Kalshi's and Polymarket's geo-blocking covers only some member states given that such restrictions can be circumvented with a VPN. ESMA also flagged insider-trading and manipulation risk on pseudonymous, blockchain-based platforms such as Polymarket, saying operator controls remain largely reactive rather than preventive.
The BlockSia's Take
ESMA is reiterating its resistance to ongoing prediction market operation under its jurisdictional authority in the European Union. While most prediction market operators have found avenues to circumvent strict restrictions (i.e. allowing US funded accounts to make trades while users are travelling in the EU), this publication is yet another example of EU regulators highlighting their resistance to prediction markets operating in their jurisdiction outside of oversight from relevant gambling authorities.
- 4Industry
Polymarket names former Amazon finance chief Warren Jenson as its first CFO
Polymarket announced on September 10, 2026 that it hired Warren Jenson, a former CFO of Amazon, Electronic Arts, Delta Air Lines, NBC, and most recently Nielsen, as its first chief financial officer, reporting directly to founder and CEO Shayne Coplan. The hire follows Polymarket's $1 billion raise at a $21 billion valuation and signals the company is building out finance and capital-strategy functions as it works to scale its CFTC-regulated US exchange and close the gap with Kalshi.
CoinDesk - 5Industry
Riot Games holds esports-sponsorship talks with Kalshi and Polymarket
Riot Games, the publisher of League of Legends and Valorant, has discussed esports-sponsorship deals with Kalshi and Polymarket ahead of the League of Legends World Championship in October, the first known interest from a major game publisher in bringing prediction-market branding into professional esports. Riot said any approved sponsor would need to source data through its partner GRID Esports and that talks weigh competitive integrity, team value, and fan experience; no deal has been announced.
Bloomberg - 6IndustryCatch-up
Tema launches prediction-markets ETF with private stakes in Kalshi and Polymarket
Tema ETFs launched its Trading & Prediction Markets ETF (BATS: DICE) on September 9, 2026, giving investors exposure to the operators and infrastructure around prediction markets rather than to event contracts themselves, which remain under SEC review. Roughly 15% of the fund's assets sit in private-company stakes held through special-purpose vehicles, split roughly evenly between Kalshi and Polymarket at about 7.3% each, with a 75-basis-point expense ratio.
Benzinga