Kalshi offers PGA Tour markets as sports event contracts near Supreme Court
The Industry is being disrupted by one of its newest entrants Kalshi, which offers sports-event contracts, is one of the latest acquisitions to be made public. on May 25, 2026, it went live with contracts for the 2026 Charles Schwab Challenge as well as Tournament Winner, End of Round Leader, Finishing Position nevertheless the firm's growth on PGA Tour markets risks being curtailed. An unresolved conflict between the D.C. and Fifth Circuits over the legality of such contracts has naturally attracted the attention of the Supreme Court. The conflict between the D.C. and Fifth Circuits has naturally attracted the Supreme Court, and Kalshi is betting on federal preemption in the hopes to avoid state restrictions as Rhode Island's attorney general sues both Kalshi and Polymarket over unlicensed sports event contracts just one day prior, on May 26, 2026.
The Supreme Court's intervention is likely to determine once and for all whether sports event contracts sit inside federal preemption. A ruling against federal authority would expose Kalshi to the same geofencing and licensing demands that state attorneys general are already pressing in Rhode Island, Nevada, and Minnesota.