About 90% of Kalshi's volume has come from sports contracts in recent months. In late 2024, prediction markets seemed poised to take over the world. Thanks to a big win in a court case against the ...

As the U.S. heads toward November’s midterm elections, a growing number of investors and political observers are turning to prediction markets like Kalshi and Polymarket to gauge who might win.

The prediction market Kalshi suspended three political candidates from its platform on Wednesday for “political insider trading” after an internal probe found that they bet on their own campaigns.

Sens. Jeff Merkley, D-Ore., Elizabeth Warren, D-Mass., and Rep. Jamie Raskin, D-Md., on Thursday introduced legislation to ban prediction market bets on sports, war, elections and government actions.