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ESMA and States Clash Over Prediction Markets | Bitcoin and Crypto News
Description
ESMA is cracking down on prediction markets in Europe, warning that if they resemble binary options with fixed payouts, they’re already illegal for retail investors — no rebranding allowed. Meanwhile, in the U.S., a fierce battle rages between state regulators and the CFTC over jurisdiction, with eleven states launching legal actions against platforms like Kalshi and Polymarket, even prompting temporary shutdowns and criminal charges — while the CFTC insists it alone holds the authority, potentially setting the stage for a Supreme Court showdown.
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