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Perpetual futures, or "perps", are derivatives that lack a traditional expiration date, allowing traders to maintain positions indefinitely without the need to roll over contracts. These instruments also permit high degrees of leverage - often as much as 50-to-1 - enabling investors to amplify th
Wintermute is providing liquidity on the two biggest prediction markets, linking flows for both firms, according to a source familiar with the matter.
Prediction market giant Kalshi has asked a federal judge to prevent Minnesota from allowing the ban to go into effect in August.
US states have also tried to regulate Polymarket and Kalshi, but the federal government isn't having any of it.
The platforms were blocked for operating without licenses required by Spanish gambling law, citing a lack of safeguards for minors and self-excluded gamblers.
Rhode Island joins other states that have taken similar legal action.
