The biggest sports betting companies in the world, and some of the top professional sports leagues, are keenly keeping tabs on controversial sports “prediction” markets like those offered by Kalshi, which has a legal winning streak going as it proclaims it’s here to stay.
Kalshi became well-known last year when it began allowing users to trade on the outcome of political events like the U.S. presidential election. Under President Joe Biden, the Commodity Futures Trading Commission sought to prohibit Kalshi from listing political event contracts, which led to Kalshi suing in federal court and ultimately winning.
What does this have to do with sports?
