Native American Tribes Sue Kalshi and Robinhood Over Economic Threats
- Escalating Legal Conflict: A growing legal clash between Native American tribes and Silicon Valley-backed prediction markets intensifies, as tribal leaders warn that new forms of online wagering threaten the economic backbone of Indigenous communities across the U.S., potentially leading to significant revenue losses.
- Economic Impact: Tribes argue that Kalshi and Robinhood's prediction trading products constitute illegal gambling, undermining their ability to fund essential government services and social programs through gaming revenue, which directly affects tribal self-governance and economic development.
- Legal Support: A coalition of Native American organizations and tribes has filed a legal brief backing the Ho-Chunk Nation of Wisconsin in its lawsuit against Kalshi and Robinhood, emphasizing that gaming is not merely a commercial activity but an existential issue tied to tribal sovereignty and self-determination.
- Regulatory Challenges: Despite mounting legal resistance from tribes and states like Nevada, prediction markets continue to gain traction, with competitors like Polymarket forming media partnerships and major exchanges such as Intercontinental Exchange and CME Group entering the space, indicating that the regulatory battle is just beginning.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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