Kalshi
CompanyKalshi Inc. is a prediction market platform based in Manhattan, New York City, that launched in July 2021. The platform is used primarily for sports betting, which constitutes more than 90% of site activity and 89% of revenue in 2025. Analysts describe activity on the platform as "heavily tied to the sports calendar". Individuals can place bets on other future outcomes, including economic indicators, weather patterns, awards, political and legislative outcomes, and military conflicts.
From Wikipedia, licensed under CC BY-SA 4.0. Shown as published there.
Facts
- Country
- United StatesSource: Wikidata
- Founded
- 2018Source: Wikidata
- Founded by
- Luana Lara Lopes, Tarek MansourSource: Wikidata
- Headquarters
- New York CitySource: Wikidata
- Official website
- kalshi.comSource: Wikidata
- Wikipedia
- Read on WikipediaSource: Wikidata
Security timeline
- In the news by U.TodayKalshi traders bet on XRP recovering to at least $1.3 in November
- In the news by CryptoPotatoBitcoin falls below $65,000 as leveraged liquidations and Fed hike odds weigh on markets
- In the news by The BlockCFTC sues Louisiana to block order banning 31 prediction markets
- In the news by BeInCryptoHouse memo urges limits on officials' prediction market bets
- In the news by CryptopolitanCFTC escalates prediction-market fight as states bring criminal charges
- In the news by UnchainedUS government sues Arkansas to block state case against Kalshi prediction market
- In the news by ProtosRobinhood, Kalshi and Crypto.com seek Supreme Court ruling on prediction market wagering tax
- In the news by UnchainedDonald Trump Jr. leaves Kalshi advisory role but keeps Polymarket post
- In the news by The BlockDOJ and CFTC sue Arkansas to block state action against Kalshi
- In the news by BanklessSEC backs CFTC in legal fight over stock perpetual futures approvals
Recent news
Kalshi traders bet on XRP recovering to at least $1.3 in November
Kalshi traders are placing November bets that XRP could rebound to at least $1.3 after a continued sharp decline. The article says XRP has lost a long-held price level, but the figure is not stated in the text provided.
Bitcoin falls below $65,000 as leveraged liquidations and Fed hike odds weigh on markets
Bitcoin fell from around $81,000 to under $65,000, with an intraday low of $65,020, as excessive leverage led to over $500 million in liquidations on Saturday alone, 94% of them longs. Ted Pillows found no evidence of large sell-offs above $50 million, and wallets linked to Erik Voorhees bought nearly $100 million of ETH over four days. Markets also priced in a near-certain December Fed rate hike, according to CME Fedwatch, Kalshi and Polymarket.
CFTC sues Louisiana to block order banning 31 prediction markets
The CFTC has sued Louisiana to block a state judge's order that bans 31 prediction markets, including Kalshi and Polymarket, within the state. Louisiana's attorney general hit back by calling the CFTC chair an 'obsequious standard bearer' for prediction markets. The dispute is a clear clash between federal and state authority over these platforms.
House memo urges limits on officials' prediction market bets
A November 13 memo from House Oversight staff asks Congress to ban or tightly limit officials in all branches from trading on government and political prediction market contracts, even without inside information. The memo cites three CFTC cases, including a $1.2 million trade on Polymarket.com that the CFTC alleges used nonpublic search data. The Senate already barred senators and their staff in April, and the Department of War has barred personnel from using prediction markets for personal gain.
CFTC escalates prediction-market fight as states bring criminal charges
CFTC chair Michael Selig says state criminal charges against prediction-market executives are "really egregious", and the CFTC has sued Louisiana after a state judge ordered more than 30 CFTC-linked companies to stop operating there. Utah filed felony charges against Kalshi and its two cofounders in October, and 44 state attorneys general argue that sports contracts are not derivatives. New Jersey has asked the Supreme Court to decide whether the Dodd-Frank Act blocks states from enforcing gambling laws against these contracts, and the appeals courts are split. Selig says the CFTC has exclusive jurisdiction.
US government sues Arkansas to block state case against Kalshi prediction market
The Department of Justice and the CFTC filed suit on Nov. 12 in the US District Court for the Eastern District of Arkansas, asking a judge to block Arkansas's Deceptive Trade Practices Act case against Kalshi. The federal complaint argues Kalshi's sports event contracts are swaps under the Commodity Exchange Act, placing them under exclusive CFTC jurisdiction. It notes that courts in Arizona, Illinois and Minnesota have already issued preliminary injunctions favouring the federal side.
Robinhood, Kalshi and Crypto.com seek Supreme Court ruling on prediction market wagering tax
Robinhood, Kalshi and Crypto.com have asked the US Supreme Court to review losses in cases brought by Nevada and New Jersey over their sports event contracts. The companies argue these are not taxable wagers and have not been collecting federal wagering tax, and responses in all three cases are due on 7 December. Robinhood has warned that an unfavourable tax ruling could be material and make event contracts uneconomical.
Donald Trump Jr. leaves Kalshi advisory role but keeps Polymarket post
Kalshi and Donald Trump Jr. have mutually ended his advisory role, after his firm 1789 Capital invested in rival Polymarket this summer. Trump Jr. still advises Polymarket, which he joined in August 2025. The move came a week after Democrats won both chambers of Congress, and Senator Elizabeth Warren, expected to take control of the Senate Banking Committee in January, has listed Trump family crypto businesses and prediction markets among early oversight targets.
DOJ and CFTC sue Arkansas to block state action against Kalshi
The US Justice Department and the Commodity Futures Trading Commission (CFTC) have sued Arkansas to block a state enforcement action against Kalshi. Arkansas had sued Kalshi on 4 November, alleging that it operates an illegal gambling platform in the state.
SEC backs CFTC in legal fight over stock perpetual futures approvals
The SEC has sided with the CFTC in a legal dispute over stock perpetual futures from Kalshi, Coinbase and Bitnomial. With both regulators now defending the approvals, the products look safer, though one judge has signalled doubts about them.