It isn’t just states trying to restrain prediction markets over their legality. Several Native American tribes have also taken aim at what has become a rapidly growing betting business.
But one has gone the opposite way.
The Tunica-Biloxi Tribe of Louisiana plans to announce on Friday a prediction-market app powered by Kalshi, the $22 billion company at the top of the industry. The app would allow customers to bet on real-world events through a new business owned and operated by the tribe.
The partnership will thrust Tunica-Biloxi, a tribe of about 1,600 members based in central Louisiana, into the national debate over prediction markets, which allow users to bet on sports, the price of commodities and much more.
