Know the Outcome? Don't Trade: CFTC Puts Prediction Markets on Notice

In an unusual move, the Commodity Futures Trading Commission’s (CFTC or Commission) Division of Enforcement (Division) issued an advisory (Advisory) on February 25, 2026, highlighting two disciplinary actions brought by Kalshi, a self-regulatory organization (SRO) and designated contract market (DCM), against two of its members involving the misuse of material nonpublic information (MNPI) and fraud in connection with prediction markets. The announcement comes as Kalshi publicly disclosed details... By: Katten Muchin Rosenman LLP