Maryland Election Chief Seeks Probe of Kalshi, Polymarket Over Election Betting Ban
Updated
Updated · WBAL TV Baltimore · Jul 24
Maryland Election Chief Seeks Probe of Kalshi, Polymarket Over Election Betting Ban
3 articles · Updated · WBAL TV Baltimore · Jul 24
Summary
Jared DeMarinis asked Maryland's state prosecutor on Thursday to investigate whether election contracts on Kalshi and Polymarket violate the state's ban on wagering on election outcomes.
Maryland law says a person may not bet on an election, and DeMarinis argued the markets pay users based on odds and results, raising risks of insider trading, manipulation and candidates profiting from campaigns.
Kalshi rejected that view, saying federal regulators and a Washington, D.C., court have already deemed its election markets legal, and that the platform monitors insider activity and bars candidates and campaign staff from trading.
The dispute adds to Maryland's broader clash with Kalshi: a separate cease-and-desist fight over sports-event contracts is already in court, and DeMarinis said he will seek legislation next session if current law proves insufficient.