Coinbase Global (NASDAQ:COIN) are Robinhood Markets (NASDAQ:HOOD) are backing a rule banning prediction markets from offering slot machines, roulette and other casino games.
A Calculated Concession
Casino games are “entertainment products, generally played against the casino itself” with no price discovery function, the Coalition for Prediction Markets members told the CFTC on Thursday.
Prediction markets “facilitate price discovery, providing useful information about the probability of future events.”
The framing matters. Sports made up close to 90% of Kalshi’s volume in the year ending in February, according to the Congressional Research Service.
U.S. legal sports betting hit a record $167 billion in 2025, up 11% year-over-year, according to the American Gaming Association. By ceding slot machines, the Coalition is asking the CFTC to formalize a distinction that protects access to that lucrative market.
Polymarket traders think there is only a …
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