Marketplace All-in-One For prediction market regulation, it's states versus the feds
Feb 18, 2026
Kaylee Wells, a Marketplace reporter who explains international economic issues, walks through why Sweden is rethinking the euro. She also covers the clash over who should regulate prediction market platforms: federal regulators or state gambling laws. Short, topical segments touch on ECB leadership questions and the geopolitical forces nudging Sweden toward greater European integration.
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Federal Claim Over Prediction Markets
- The CFTC argues prediction markets are derivative-like contracts best regulated federally by the agency.
- States counter that many prediction markets function as gambling platforms and should follow state gambling laws.
States See Prediction Markets As Gambling
- States like Nevada and Massachusetts view many prediction platform offerings as gambling that must follow local laws.
- Companies such as Calchi/Calshi and Polymarket prefer a single federal regulator to avoid a patchwork of state rules.
Seek One Federal Regulator
- Platforms should seek one clear federal regulator to avoid inconsistent state rules.
- Calchi publicly argues that managing a patchwork of state regulations would be difficult for its operations.