Founders Fund evaluates Polymarket’s CEO, **Daniel Coplan**, amid investor pressure for operational shifts. The prediction-market platform faces competitive challenges from **Kalshi**, which has expanded its market share. Investors question Polymarket’s growth trajectory and leadership decisions following its 2025 funding discussions.
The NFL tells the U.S. Supreme Court that Kalshi’s sports contracts are gambling, not swaps, in a brief supporting New Jersey. The league argues the contracts fall outside Dodd-Frank’s definition of a swap and asks the justices to resolve a split among three appeals courts.
A US appeals court rules against Kalshi, finding that its sports contracts are not swaps subject only to federal Commodity Futures Trading Commission oversight. The decision allows states to regulate Kalshi's contracts under gambling laws, instead of leaving oversight exclusively to the federal regulator.
New York sues Polymarket as states intensify legal challenges to prediction markets. The article says Polymarket and rival Kalshi face challenges from states around the country and identifies New York as one of the largest markets.
