Legal
Kalshi calls Wisconsin ballot betting guidance illegal
The Wisconsin Elections Commission issued guidance stating that voters cannot bet on an election in which they cast a ballot, citing state law. Kalshi fired back, calling the guidance illegal. The dispute centers on whether the state's ballot-betting restriction applies to Kalshi's election-related event contracts.
Why this matters?
Tests whether state-level ballot-betting statutes can override federally regulated event contracts, with implications for how other states may try to constrain prediction market activity.
The bigger picture
Raises questions about Kalshi's federal preemption defense, with Polymarket and DraftKings Predicts facing identical exposure if Wisconsin's ballot-betting tactic spreads.
In this story