Kalshi, a prediction market exchange, has been designated as a 'covered' exchange by the Commodity Futures Trading Commission (CFTC) after controlling 7.5% of the U.S. derivatives market. This designation allows Kalshi to expand its operations significantly, following a successful legal battle that legalized prediction markets in the U.S. The exchange has seen over $2 billion in trade volume and onboarded 2 million new users. Kalshi has also increased its market offerings tenfold and is now available in all 50 states for sports trading. In response to challenges in traditional media advertising, Kalshi has opted to focus its marketing efforts on social media platforms, particularly X, after facing censorship from cable networks for its advertisements. The company recently released commercials for the Oscars directly on X, citing the lack of support from mainstream media outlets.