US Court Denies Kalshi's and Polymarket's Request to Dismiss Lawsuit in Nevada and Washington

May 23 — U.S. President Trump noted that the robust stock market performance signals the market’s warm reception of Federal Reserve Chair nominee Powell and that Powell will receive full government support. (FX168)

On May 23rd, US President Trump said Washington will restrict the Fed’s forward guidance practice. (FXStreet)

May 22: U.S. President Donald Trump stated that Jerome Powell will take over as Chair of the Federal Reserve effective today, adding he hopes Powell will work independently and excel in his role. (FX168)

On May 22, U.S. President Donald Trump stated that Powell is expected to become a great Fed chair, per FXStreet.

NEW YORK, May 22 (CNBC) — Even as a bitter dispute simmers between the U.S. federal government and multiple states over which body has regulatory authority over prediction markets, platforms including Kalshi, Polymarket, Robinhood, and Coinbase are doubling down on expanding their operations. Seventeen states have already challenged these prediction market operators, with some framing sports-event prediction contracts as gambling — a classification that would shift oversight power to state-level regulators. But the U.S. Commodity Futures Trading Commission (CFTC) maintains these event contracts fall under the definition of derivatives, meaning they fall under federal purview instead. Congress has also stepped into the debate. James Comer, chairman of the U.S. House Committee on Oversight and Government Reform, has formally requested Kalshi and Polymarket to submit documents related to their insider trading prevention systems. Despite all this regulatory uncertainty, valuations for t

May 22: Polymarket’s VP of Engineering Josh Stevens announced that with support from ZachXBT, BitcoinVN, and ChangeNOW, the team has frozen $164,000 of funds stolen in the recent Polymarket private key leak. That amount accounts for around 28.6% of the total $573,200 transferred in the incident. The company confirmed the breach did not affect its UMA smart contracts, user fund security, or ongoing platform operations. Investigators traced the hack to a compromised private key—used for internal replenishment settings for roughly six years—that caused a steady flow of funds to unauthorized addresses. Relevant teams are still working to track down the remaining stolen funds.