Business
business
Jack Raines

Legal US presidential prediction markets are imminent

A little more than one month from the 2024 presidential election, it looks like US voters will soon be able to put their money where their mouth is regarding their predictions for this year's winner.

Kalshi's CEO and founder, Tarek Mansour, posted on X that his company had won its lawsuit, opening the door for legal presidential election markets. The ruling lifted the stay the CFTC had requested against Kalshi’s 2024 congressional elections contracts while it appeals a lower court decision.

For context, Kalshi sued the CFTC in November 2023 for blocking election market contracts last year. While Polymarket has thus far been the biggest name in prediction markets, with media outlets from The Wall Street Journal to Bloomberg citing its election odds, Polymarket only operated overseas due to US regulations. With today's ruling, Kalshi is well-positioned to take the lead in the prediction market space.

For context, Kalshi sued the CFTC in November 2023 for blocking election market contracts last year. While Polymarket has thus far been the biggest name in prediction markets, with media outlets from The Wall Street Journal to Bloomberg citing its election odds, Polymarket only operated overseas due to US regulations. With today's ruling, Kalshi is well-positioned to take the lead in the prediction market space.

More Business

See all Business
Max Knoblauch
4h
Higher prices, lower sales: Video game giants forecast the impact of the memory crunch

Video game console makers addressed the memory pricing surge this quarter.

Sony DualSense For PlayStation 5 In Starlight Blue Color.
Claire Yubin Oh
bird was the word
7h
Duolingo’s business was supposed to soar with AI — now it’s getting its wings clipped

The language-learning app’s shares have plunged almost 80% in the past year.

Duolingo banner over Hooters restaurant
business
Max Knoblauch

Used car prices dip in April but remain at 2023 levels as gas prices surge

Used car prices ticked down in April, the first drop in 2026, according to fresh data from Cox Automotive.

Cox’s Manheim Used Vehicle Value Index, which tracks wholesale prices, dipped 1.6% in April from March, but remains around highs not seen since 2023 as shoppers react to surging gas prices.

“Affordability remains front and center, and that’s driving some increased demand for older vehicles... as well as changing the calculus for consumers shopping for EVs,” said Cox’s chief economist, Jeremy Robb.

As reported in March, used car retailers including CarMax have told Sherwood News that gas prices are driving more shoppers to look toward EVs. Cox’s EV index is up 7.2% from April 2025, compared to a 1.1% hike for its non-EV index.

Tom Jones
gear shift
5/6/26
Harley-Davidson hopes getting “Back to the Bricks” will help turn its motorcycle business around

Its ~$1 billion financial services segment has helped keep the company ticking over in the meantime.

Harley-Davidson motorcycles cruising along scenic road during European Bike Week, showcasing vibrant atmosphere and camaraderie among riders
business
Max Knoblauch

Xbox CEO overhauls leadership team with Microsoft AI execs amid sales declines

Microsoft is continuing to shake up Xbox, with gaming chief Asha Sharma (who took over the division suddenly in February) announcing an executive overhaul.

According to an internal memo seen by CNBC, Sharma is bringing four leaders from her former CoreAI group into the Xbox fold, as they have “consumer and technical expertise [Xbox does] not yet have.”

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

Microsoft Xbox CEO overhauls leadership amid sinking sales: 'We need to evolve how we work'

Microsoft Xbox CEO overhauls leadership amid sinking sales: 'We need to evolve how we work'

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.
©2026 Sherwood Media, LLC