Kalshi sued the Missouri Gaming Commission and several state officials Wednesday, claiming they cannot regulate prediction markets because that authority lies solely with the federal government.
Prediction markets have spread like wildfire since the Trump administration’s Commodity Futures Trading Commission embraced the new platforms that allow all adults to trade on sports, elections and other real-world events, regardless of local gambling laws. Odds are set by the public rather than “the house” at a traditional sportsbook, but trades are essentially the same as bets — though states have so far struggled to regulate them as such.
