Prediction market executives appear to have been scratched from today’s White House card.

Semafor reporter Eleanor Mueller says a White House official confirmed prediction market companies will not participate in President Trump’s event with tech leaders, despite earlier reporting that Kalshi and its backer Paradigm were among those expected to attend.

The gathering is intended to promote America’s “innovative and technological dominance,” with crypto heavyweights reportedly in the mix.

Why prediction markets are suddenly sitting this one out isn’t clear. But after seemingly making the guest list last week, Kalshi and company will apparently have to watch this particular market from the sidelines.

Connecticut isn’t ready to let Kalshi hit the pause button on state enforcement.

According to attorney Daniel Wallach, the state is urging the Second Circuit to reject Kalshi’s request for interim administrative relief while the prediction market operator pursues an emergency injunction pending appeal. Connecticut has until August 24 to formally oppose that motion.

Connecticut urges Second Circuit to deny Kalshi’s request for interim administrative relief, which would bar state enforcement action until the resolution of Kalshi’s emergency motion for an injunction pending appeal, and give the State until Aug. 24th to object to the motion. pic.twitter.com/KT3g7ms0zf

Kalshi's Robert DeNault has co-authored a new piece with Wharton professor Daniel Taylor for the Harvard Law School Forum on Corporate Governance, examining how insider-trading surveillance in prediction markets differs from traditional securities markets.

The timing is certainly lively. With politicians increasingly raising alarms about suspiciously well-informed prediction market traders, the industry is facing growing scrutiny over who knows what, and when.

Congress is now looking to put out the fire on wildfire prediction markets, with a new House bill seeking to ban contracts tied to wildfires and other natural disasters.

Kalshi’s Robert J. Denault, however, would like everyone to know his company isn’t holding the matches. Responding to Senator Adam Schiff’s criticism of wildfire wagering, Denault said Kalshi doesn’t list wildfire or war markets, arguing they create “bad incentives” and are inconsistent with federal commodities law.

In other words: prediction markets are catching heat, and Kalshi wants everyone to check whose kitchen the smoke is coming from.

Kalshi doesn’t list war or wildfire markets because they create bad incentives and are inconsistent with the CEA. Just like one politician doesn’t define everyone in Washington, one offshore prediction market doesn’t define the whole industry. https://t.co/DMdYQIU8BM