Washington court orders Kalshi to halt most prediction market offerings in state

JUST IN: A Washington court orders Kalshi to halt most of its prediction market offerings in the state, while allowing commodities, climate, economics and finance-related markets to continue.

A Washington court just told Kalshi to shut down most of its markets in the state.

Kalshi is the regulated prediction market where people trade on real world outcomes, elections, sports, you name it. And a state court has now ordered it to halt the bulk of those offerings for Washington residents. What survives is the boring end of the menu, commodities, climate, economics and finance markets can keep running. Everything else, paused.

That carve-out is the interesting part. The court is effectively drawing a line between betting and hedging, and saying Kalshi can do one but not the other. Kalshi has spent years arguing it answers to federal regulators, not fifty separate state gambling authorities, and it's been fighting versions of this battle across the country.

One state just drew its own line anyway, and if that ruling stands, every other state now has a template.

This is Sara White, reporting for HIT.

Source Read the original reporting at theblock.co