Tagged: Kalshi

The spat between the leading prediction market company and a key battleground state could be a glimpse into the next major fight between states and the fast-growing industry.

The betting site Kalshi emerged as a dominant sports betting platform during the World Cup. But the company avoids billions of dollars in taxes by insisting it is not a sports gambling operator.

It's the first known instance of officials investigating suspected insider trading on a prediction market from inside the White House.

Kalshi says it has blocked "dozens" of trades from campaign insiders, but experts say the company's approach leaves lots of potential loopholes. NPR has found at least one trade that slipped through.

Mark Zuckerberg met with Kalshi's CEO last year about a potential deal, but talks did not move forward. Now Meta is making its own prediction market app.