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California Gov. Gavin Newsom on Friday banned state-appointed officials with insider information from making bets on prediction markets as the popular gambling sites stoke controversy. The executive order added to existing ethics rules that prohibit state officials from using information unknown to the public to enrich themselves or family members, as recent huge payouts on […]
A public clash between prediction market platform Kalshi and the advocacy group Gambling is Not Investing is playing out alongside March Madness, with fresh comments from Kalshi leadership adding fuel to the debate. The dispute gained traction after the group introduced “Mick’s Picks,” a campaign featuring former congressman and Executive Director Mick Mulvaney placing tournament […]
A group of regular Kalshi users, some of whom are self-professed addicts, have filed a class-action lawsuit against the prediction market over its claims that it is not a betting platform. Alexander Hallman, Jeremy Kravetz, Daniel Greenberg, Nathaniel Bee, and Abhijn Gutta are the plaintiffs, who have all reportedly lost money to Kalshi through […]
Former Federal Reserve Governor Kevin Warsh soared ahead of National Economic Council Director Kevin Hassett on prediction markets betting on the next Fed chair after President Trump on Friday hinted that Hassett might be out of the running. Trump did not reveal his final choice to replace Fed Chairman Jerome Powell, but said he would […]
Due to the ongoing lawsuit, the Ho-Chunk Nation has moved to block Kalshi from offering sports contracts for the duration of the legal battle. According to legal documents shared by gaming lawyer Daniel Wallach, the Ho-Chunk Nation has moved for a preliminary injunction to prevent Kalshi from offering sports event contracts on the Tribe’s lands […]
A new poll from the prediction market operator Kalshi shows that most Americans want access to prediction markets and would rather see them overseen by the federal government instead of state gambling regulators. The timing isn’t a coincidence. The results come at a time when gaming commissions in several states are debating whether these markets […]
At a rally in New York City on Monday night, Mayoral candidate Zohran Mamdani referenced Kalshi’s latest predictions that have the Democrat set for a landslide victory when New Yorkers go to the polls on Tuesday (November 4). The 34-year-old state assemblyman is aiming to become the youngest mayor in over a century in the […]
Nevada regulators have submitted a request, known as a motion to compel discovery, from predictions market Kalshi to disclose key information relating to its federally approved business. The news comes as a wider tightening of legal knots is coming into focus in Nevada against predictions markets like Kalshi and Crypto.com (Crypto). Kalshi under scrutiny from […]
The Kalshi logo arranged on a laptop in New York, US, on Monday, Feb. 10, 2025. Gabby Jones | Bloomberg | Getty Images Massachusetts filed a lawsuit in state court Friday against Kalshi, alleging the predictions platform offers sports gambling without a license under the guise of events contracts. “If Kalsi wants to be in […]
Kalshi received updates to ongoing legal wrangles in Maryland and Nevada this week, with the prediction market platform still operational in both jurisdictions. In the Old Line State, Kalshi has dropped its request for a new injunction following an agreement with state officials to delay action until the Court of Appeals rules on Kalshi’s own […]
