Our week starts with introduction of new trading competition live for all the participants on our private mainnet, with more than 15 matches already traded over the weekend let’s see what are the latest news in the industry
The week opened with the legal saga dominating industry commentary following the Ninth Circuit hearing.
Fortune published a landmark analysis on April 20 concluding that the prediction markets industry's fight was now headed toward the U.S. Supreme Court — noting that judges at the Ninth Circuit appeared to favour Nevada's arguments over those of Kalshi, Robinhood, and Crypto.com.
The piece bluntly observed that sports betting accounted for the overwhelming majority of platform revenues, and that the $22 billion and $20 billion valuations of Kalshi and Polymarket respectively "would be punctured badly" if courts ruled CFTC status didn't shield them from state authorities.
Nine U.S. jurisdictions : Arizona, Arkansas, Illinois, Louisiana, Massachusetts, Maryland, Michigan, Nevada, and Ohio had by the week of April 20 taken formal enforcement action against prediction platforms, prohibiting their use.
The NBA Playoffs dominated prediction market trading through the week, with eight simultaneous first-round series running.
Polymarket hosted $464.8 million in total NBA trading volume across its 20 active NBA markets as of April 25 making the NBA Playoffs the week's single largest prediction market category by volume. The most dominant signal in the market was the Oklahoma City Thunder, priced at 99% probability to advance past the Phoenix Suns to the Conference Semifinals the highest single-series certainty on the platform.
The UEFA Champions League quarter-finals completed during the week, producing one of the most dramatic results of the European season and reshuffling the prediction market entirely.