ECONOMY08/25/26

Kalshi's Rise and Legal Battles

Kalshi seeks regulatory delays on Cboe as prediction markets face legal scrutiny.

HOW COVERAGE DIFFERSCOVERAGE SPLIT

FRAMING Bloomberg Markets emphasized Regulatory Competitive Conflict; Washington Examiner Business emphasized Growth Amid Legal Risk.

WHAT BOTH SIDES REPORT

▸Kalshi is competing with Cboe Global Markets in the prediction markets space. — Bloomberg Markets, Washington Examiner Business

LEFT / CENTER-LEFT

▸Kalshi is asking regulators to delay Cboe's competing prediction market products. — Bloomberg Markets
▸Friction is intensifying between upstart prediction markets and incumbent financial exchanges. — Bloomberg Markets

RIGHT / CENTER-RIGHT

▸Kalshi's monthly trading volumes surpassed $37 billion in July, boosted by the World Cup. — Washington Examiner Business
▸Kalshi is raising capital at a $40 billion valuation, roughly four times its worth eight months ago. — Washington Examiner Business
▸State and federal lawsuits against Kalshi could eventually reach the Supreme Court. — Washington Examiner Business
▸Kalshi's CEO has discussed a potential IPO as soon as 2027. — Washington Examiner Business

Bank of America $1.2B Treasury Fine

Treasury Department fined Bank of America over $1.2 billion for sanctions and anti-money laundering violations

DEVELOPING TIMELINE

First Report Thursday: The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Sunday: Treasury fine now cites Chinese money laundering networks

Left: Third-largest Treasury penalty ever imposed.

Right: Tied to Chinese networks and border criminals.

The US Treasury fined Bank of America $1.2 billion for anti-money laundering and sanctions violations.

Left: Third-largest Treasury fine ever issued.

Right: Violations tied to border crime, China networks.

September consumer prices rose 0.6% monthly and 3.7% annually, the fastest pace in five months.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Thursday: September CPI confirmed at 3.7% annually, up from 3.6% prior

Left: Rising prices squeeze everyday Americans hardest.

Right: Inflation surge spells trouble for Trump, GOP.

Inflation rose to 3.7% in September, the last CPI report before midterm elections.

DEVELOPING TIMELINE

First Report Oct 14: Economists expect September consumer prices to rise 0.6% monthly and 3.6% year-over-year, driven by energy costs.

Sunday: September CPI report confirms 3.7% annual inflation rate

Left: Prices hit everyday Americans on essentials.

Right: Rising prices spell trouble for Trump's party.