A panel of judges for the U.S. Ninth Circuit Court of Appeals on Wednesday denied Kalshi’s request for a rehearing in its case against the state of Nevada. The three-judge panel wrote that “The full court has been advised of the petition for rehearing en banc and no judge has requested a vote on whether to rehear the matter en banc.”

FanDuel appears to be facing a key decision for its prediction market product. Dan Taylor, CEO of parent company Flutter, said FanDuel will soon get a “clearer view” of whether it should spend on prediction markets as a source of profit in their own right or as a means to pick up customers in states that may soon legalize sportsbooks.

Taylor reiterated former Flutter CEO Peter Jackson’s claims from past Flutter results that prediction markets were not cannibalizing sportsbook revenue. However, he said that they are competing with FanDuel in terms of advertising, raising the company’s marketing costs. Read more on Flutter's results and earnings call here: ingame.com/fanduel-predictio…

A 26-year-old in NYC says he made a few hundred grand trading prediction markets in about a month. When people ask what he does for work, he says he’s unemployed. Meet the “garage band” market makers: solo traders taking on the Susquehannas from their bedrooms.

One edge? $1K opportunities big firms ignore, fast pivots with no boss to answer to, and AI agents doing the research. The catch, though, AI is helping more solo traders get set up, and " people are tripping over each other to offer the best price."

“The optics of telling someone that you’re betting on sports is still pretty negative,” says EK. “And so sometimes I prefer to tell people that I’m just unemployed, because I think that comes off as better than telling them that you’re betting on sports out of your bedroom.” He's a so-called garage band market maker, working on their own in markets that attract billions in institutional money, with nobody else to handle the research, tinker with the models, or take over for the evening.

Nebraska online sports betting initiatives will fail. With more than 90% of votes counted just after midnight local time Wednesday, Measures 440 and 441 were losing by 8%. Margins are now up further.

A pair of initiatives that would have added online sports betting in Nebraska were losing, 54%-46%, as of 12:05 a.m. CT Wednesday, with more than 95% of votes counted, according to the Nebraska Secretary of State’s election tracking website — meaning the fates of the initiatives were decided at that hour. The loss means that 2026 will likely close with only one state — Wisconsin — legalizing or expanding legal sports betting

Second Circuit judges appeared to doubt that sports event contracts could qualify as swaps, but also seemed to search for ways to avoid letting New York and Connecticut ban the products for now. Questions for Kalshi, Coinbase, and the CFTC in a hearing today mostly concerned the merits of the case, while questions for the state seemed to deal more with potential harms caused by allowing the states to take enforcement action.

As promised over the weekend via the Kalshi Politics X account, the prediction market launched its “field” feature on Election Day. Stay tuned to the InGame live blog, where our staff will be providing midterms betting updates throughout Election Day.

Read more here: ingame.com/prediction-market…