Kalshi and Polymarket won’t be part of FTC sports gambling probe, report

Rival prediction markets Kalshi and Polymarket will reportedly be excluded from the Federal Trade Commission’s (FTC) probe into deceptive practices in the $167 million online sports gambling industry. The two crypto-linked firms aren’t a focus of the FTC probe, which will instead set its sights on sportsbooks like DraftKings and FanDuel. It will likely look into misleading advertisements, as well as the rate of suicides, hospitalizations, and bankruptcies caused by the industry. Sources familiar with the matter told The Washington Sun that the industry evaluation “is in its early stages,” and that it’s conducted by political and career staffers.