SiaPredict DailyOctober 28, 2026
Top line
The CFTC escalated its federal-versus-state fight by suing Utah, its tenth proceeding against a state, as Utah pursues its own enforcement action against Kalshi. Robinhood's third quarter showed how large the commercial stakes are, with event contract revenue up more than sixfold.
Today's top 2
- 1Regulatory
CFTC sues Utah to block state enforcement against CFTC-registered markets
The CFTC filed a Complaint for Declaratory and Injunctive Relief against the State of Utah on October 27 (Press Release 9315-26), arguing that Utah's state-court civil enforcement actions obstruct federal preemption and the Commission's exclusive jurisdiction over registered prediction markets. Chairman Michael Selig said Utah "seeks to shut down prediction markets across a wide variety of markets." The release says the CFTC has now started proceedings against nine other states and filed briefs in four federal courts of appeal and one state supreme court. The release does not state the filing court or the specific relief sought.
CFTC - 2Industry
Robinhood reports $173 million in event contracts revenue for Q3 2026
Robinhood's third quarter results, released October 27, put event contracts revenue at $173 million, up over 6x year over year, on a record 16.4 billion contracts traded, up over 7x. Total net revenue was $1.42 billion, up 12%. The scale shows how much of a distributor's growth now rests on a product under active state challenge.
Robinhood (SEC Form 8-K, Exhibit 99.1)