[Monthly Trading Volume in Prediction Markets Reaches $53 Billion, Legal Position in the U.S. Remains Divided] Kalshi and Polymarket recorded a combined trading volume of $53 billion in July this year, calculated based on a face value of $1 per contract at expiration. The U.S. Third Circuit Court of Appeals issued a ruling favorable to Kalshi, but the Ninth Circuit Court of Appeals and the Sixth Circuit Court of Appeals supported certain state governments in applying gambling regulations to sports prediction contracts. The U.S. Commodity Futures Trading Commission (CFTC) is pushing to include event contracts under the federal derivatives regulatory framework, while some members of Congress have proposed legislation to ban sports-related prediction market contracts. The state of New Jersey has requested the U.S. Supreme Court to intervene for review. (Source: Forbes)