Kalshi is a licensed prediction market platform and the sole exchange in the United States that is now permitted in all 50 states, excluding Ohio and New Jersey.
In 2023, Kalshi requested authorization from the Commodity Futures Trading Commission to permit Americans to bet on the power of the House of Representatives and Senate, but encountered apprehensions around unregulated gambling. Kalshi then initiated legal action, contending that the CFTC lacked the jurisdiction to restrict its activities. A judge from the D.C. District Court found in favor of Kalshi, determining that its political events contract did not entail any illegal behavior or gambling.
The CFTC, Kalshi, and Sports Betting
Kalshi aims to bolster its position with significant political support from U.S. President Donald Trump and newly appointed CFTC chairman Brian Quintenz, a Kalshi board member who previously served as a commissioner of the CFTC during Trump's initial term. Moreover, Kalshi has just appointed Donald Trump Jr. as a strategic advisor.
This signifies a marked divergence from former President Joe Biden, who adopted a stringent position against the prediction markets operated by Kalshi.
Taken from a LinkedIn post in February, the CFTC chairman, Quintenz, let his thoughts on the matter be known:
“The CFTC plays a critical role in maintaining robust hedging and price discovery markets that are the envy of the globe. The agency is also well-positioned to ensure the U.S.A. leads the world in blockchain technology and innovation. I look forward to working with President Trump’s incredible financial regulatory team.”
Bettors weary of limited odds and tighter rules may find Kalshi appealing, even though it isn't a carbon replica of sports gambling. Maybe we'll find out in due course, as we continue utilizing the best affiliate sites like Bonus Finder US for the best offers and latest information.
Kalshi Is Separated from Sports Betting Laws
Sports betting is permitted on a state-by-state basis; nevertheless, Kalshi provides a platform accessible to all Americans, such as predicting Grand Theft Auto 6's release date.
Americans have restricted opportunities to place bets on the GTA 6 release date, as most states in regulated markets do not provide prop bets for such events.
Meanwhile, on Kalshi, anyone in all 50 states, with the exception of Ohio and New Jersey, is permitted to forecast the outcome of the specified release date.
H3: Everyone in the US can use Kalshi, unlike Sports Betting
The NCAAB March Madness competition is a well-recognized athletic event, yet not all individuals are permitted to place bets on it. Individuals residing in states without authorized sports betting cannot place wagers on the annual college basketball tournament.
Kalshi offers its customers the chance to forecast the outcomes of the annual college basketball tournament, which Florida won on April 8. This is essential for those residing in states without authorized sports betting, such as Texas or California. You can purchase contracts for your favored team to win, or you can support an underdog at a reduced fee.
