PREDICTION MARKETS HIT $53B A MONTH

Combined trading on Kalshi and Polymarket more than doubled in two months, from $26 billion in May to $53 billion in July, according to Pew Research Center. Sports drove most of the jump: during the World Cup in June and July, sports trading topped $58 billion on Kalshi and neared $22 billion on Polymarket. Meanwhile, US courts are split on whether these contracts are derivatives or bets, a question the Supreme Court has been asked to settle, Forbes reports.