https://www.espn.com/espn/betting/story/_/id/48629224/why-prediction-markets-skipping-kentucky-derby
This is old news at this point, as the derby is over but interesting none the less.
As of Thursday morning, neither Kalshi nor Polymarket had listed a market for the winner of Saturday's Derby in Louisville, which is both the most prestigious annual event in its sport and a marquee date on the sports betting calendar. A Kalshi spokesperson declined comment when asked if the company planned to accept trades on the Kentucky Derby. Polymarket briefly opened a market last week then took it down -- apparently at Churchill Downs' request.
The prediction markets' caution around horse racing might seem out of place, especially given the brash ways in which they have challenged sports gambling companies, engaged in legal fights with states and continued to offer trades that have raised objections from leagues such as the NFL. But industry experts said there are good reasons why Kalshi and Polymarket might stay away from the sport, including the Interstate Horseracing Act. The 1978 law created a federal regulatory framework for betting on horse races, giving state racing commissions and racetracks significant power over wagering on their events.
Yes Predyx was the only prediction market to offer Derby betting.
Weird but another way in which it’s better to be permissionless