In April, a judge in the state ruled that Kalshi’s prediction markets were “indistinguishable” from gambling and ordered an in-state ban on the platform to be extended.

Recently, Michael Selig, chair of the Commodity Futures Trading Commission, told Axios that sports betting and prediction markets are “two separate things.” Selig also said that the CFTC is working with major sports leagues on market surveillance and other market integrity measures.

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Warsh’s confirmation to the Fed board positions the crypto-linked investor to replace Jerome Powell as chair amid inflation and digital asset policy debates.

What to know:

  • The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors in a 51-45 vote, with Sen. John Fetterman of Pennsylvania the only Democrat backing him.
  • Warsh, 56, faces a separate Senate vote to become Fed chair as Jerome Powell’s eight-year term ends Friday, though Powell plans to remain…

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