Kalshi, Polymarket Lead California Prediction Markets as 3 Tribes Press Ninth Circuit Challenge
Updated
Updated · FOX Sports · Aug 17
Kalshi, Polymarket Lead California Prediction Markets as 3 Tribes Press Ninth Circuit Challenge
3 articles · Updated · FOX Sports · Aug 17
Summary
California traders can still use Kalshi, Polymarket, DraftKings Predictions, OG Predictive and Novig statewide, even though the state has no licensed online sportsbook.
CFTC oversight has let those platforms operate outside California gaming law, filling demand after voters rejected two sports-betting ballot measures in 2022.
Three California tribes are appealing a denied injunction against Kalshi's sports contracts, and the Ninth Circuit heard arguments in July that appeared skeptical of Kalshi's exemption claim.
A 27-state-and-DC amicus brief backs the tribes, while California's Digital Financial Assets Law, effective July 1, adds another layer of state oversight.
Kalshi and Polymarket rank as the leading options on market depth and liquidity, underscoring how prediction markets have become California's main regulated outlet for sports and event trading.