The companies, products and regulatory developments shaping the broker industry.
A CFTC impartial-access interpretation and Robinhood state-specific sports-contract agreements now sit on intersecting legal timetables. The records reveal competing compliance demands, not an established violation.
Robinhood's Q3 filings show a $146m increase in event-contract revenue against $150m in total company net revenue growth, alongside an agreement for a potential equity interest tied to directing selected contracts to Crypto.com venues.
Monthly filings show retail-facing FCMs carrying customer assets under futures, foreign-futures and cleared-swaps rules. The product label alone does not reveal the legal protection.
CFTC returns show $70.5 million of futures and cleared-swaps customer assets under Webull Futures in August 2026, after the corresponding Webull Financial balances went to zero. The interface remains unified, but the clearing chains and legal protections do not.
CFTC and SEC filings show a $479.6 million annual increase in adjusted net capital, much larger customer-fund pools and a prediction-market revenue line that expanded more than tenfold.
Kalshi event contracts are live through CQG’s front ends and APIs; an expansion to the NYFIX institutional network is described as a further distribution pathway.
Robinhood reported $173 million of event-contract transaction revenue versus $120 million from crypto and $399 million from options, a material reshaping of its brokerage business.
DraftKings forecast $650m–$700m of 2026 adjusted-EBITDA investment in its Predictions business, while reporting 16% quarterly revenue growth for the group.
Marex says its clearing unit processed an event-contract transaction for a large financial institution, providing a concrete access milestone but no published volume series.
Arkansas filed a lawsuit against Kalshi over event contracts on 4 November; its allegations and requested remedies are not a judgment on federal pre-emption.
Marex Capital Markets says it has cleared an institutional event-contract transaction for an unnamed financial institution, adding a verified clearing pathway without disclosing trade size.
Event contracts generated $173m against crypto’s $120m; unrealised investment losses and higher expenses weighed on the quarterly result.
CQG users gain an event-contract trading route through front ends and APIs; the NYFIX extension is still prospective.
The new Series G is a financing event, not trading revenue. The exchange is reporting unusually large annualised activity across several markets, while several future product categories remain plans.
The order specifies fourth-quarter non-GAAP earnings. Access also involves product-specific restrictions on people with company information.