Washington Judge Blocks Kalshi Event Contracts Over Illegal Gambling Marketing in 1 State
Updated
Updated · The Christian Science Monitor · Aug 18
Washington Judge Blocks Kalshi Event Contracts Over Illegal Gambling Marketing in 1 State
3 articles · Updated · The Christian Science Monitor · Aug 18
Summary
A Washington state judge barred Kalshi from offering event contracts to local consumers after citing the platform for deceptive marketing of what the ruling called illegal gambling activities.
Washington law defines gambling as risking something of value on a future contingent event outside a person's control, covering wagers on sports, elections, entertainment, culture, tech and science.
The setback adds to a broader state push against prediction markets, with Minnesota becoming the first state to ban them in May and other legal challenges emerging from users who lost money.
Kalshi and rival Polymarket expanded rapidly as prediction markets boomed, but critics argue the platforms profit from commissions while participants as a group lose money.
Gallup found 45% of U.S. adults gambled in the past year, down from 64% a decade earlier, while the share calling gambling morally acceptable fell to 57% from 67% in 2016.