# Kalshi Type: Company Source: Legal & RegTech Intelligence Brief — https://getlegalbrief.com/entity/kalshi Canonical HTML page: https://getlegalbrief.com/entity/kalshi ## Timeline - **2026-04-15**: State Court Hearing — Potential date for arguments regarding the classification of prediction markets as gambling. - **2026-03-24**: PREDICT Act Introduction — Reps. Budzinski and Smith officially introduce the PREDICT Act in the House. - **2026-03-23**: Platform Self-Regulation — Polymarket and Kalshi unveil new internal measures to thwart insider trading. - **2026-03-20**: Senate Bill Introduced — Sens. Curtis and Schiff introduce legislation to ban sports betting on prediction markets. - **2026-03-17**: Arizona Indictment — Arizona files 20 criminal charges against Kalshi, labeling it an illegal gambling operation. - **2026-03-14**: Self-Policing Debate — Lawmakers express public concern over the ethics of participating in markets they can influence. - **2026-03-12**: Utah Legal Filing — Utah initiates legal action against prediction markets citing constitutional gambling bans. - **2026-03-10**: Anticipated Injunction Filing — Expected window for Nevada regulators to file for a temporary restraining order. - **2026-03-10**: Ohio Court Loss — Kalshi suffers a legal setback in Ohio over sports betting classifications. - **2026-03-09**: Valuation Surge — Reports emerge that Kalshi and Polymarket are targeting $20B valuations. - **2026-03-03**: Federal Remand Ruling — Judge sends Nevada's cases against Kalshi and Polymarket back to state court. - **2024-11-01**: Market Surge — Prediction markets see record-breaking volume during the US election cycle. - **2024-09-15**: Kalshi Federal Victory — U.S. court rules Kalshi can offer election-related event contracts. - **2024-09-12**: Judicial Turning Point — A federal judge rules that the CFTC exceeded its authority in blocking Kalshi's election markets. - **2024-09-01**: Federal Court Victory — Kalshi wins a landmark ruling against the CFTC, allowing it to list election-related contracts. ## Recent coverage (13 stories) ### FlightAware Sues Kalshi, Citing $400K Manipulation Risk in Prediction Markets 2026-08-11 17:20:38 · Sentiment: Neutral · Impact: 5/10 · Sources: 2 FlightAware's lawsuit against Kalshi tests the boundaries of data rights, trademark law, and the legality of event contracts. The case, involving $400K in known manipulation payouts, could set a precedent for how prediction markets source proprietary data. Full story: https://getlegalbrief.com/story/flightaware-sues-kalshi-data-legal-precedent ### IRS Silence Creates 20% Tax Rate Gap for World Cup Prediction Market Bets 2026-07-13 16:32:34 · Sentiment: Positive · Impact: 6/10 · Sources: 2 The IRS has not clarified whether prediction market contracts are gambling or investments, leaving bettors on platforms like Kalshi facing potential capital gains rates instead of up to 37% ordinary income tax. Legal experts warn that aggressive positions risk IRS challenge under substance-over-form doctrine. Full story: https://getlegalbrief.com/story/irs-silence-tax-gap-prediction-markets-legal ### StarCompliance Debuts 1st-Ever MNPI Surveillance for Prediction Markets 2026-07-12 07:55:12 · Sentiment: Positive · Impact: 6/10 · Sources: 3 The first enterprise-grade compliance tool specifically for prediction markets has arrived, enabling legal teams to monitor employee trading for material non-public information risks. The StarCompliance-Kalshi partnership fills a critical regulatory gap as prediction markets gain institutional traction. Full story: https://getlegalbrief.com/story/legal-prediction-market-compliance ### PREDICT Act Targets Insider Trading Risks in Political Prediction Markets 2026-03-26 00:55:40 · Sentiment: Neutral · Impact: 7/10 · Sources: 2 Bipartisan lawmakers have introduced the PREDICT Act to prohibit federal officials, including the President and members of Congress, from trading on prediction markets. The legislation aims to prevent the exploitation of non-public information regarding policy decisions and geopolitical events. Full story: https://getlegalbrief.com/story/predict-act-congress-prediction-market-ban ### Kalshi and Polymarket Enact Strict Insider Trading Bans to Bolster Integrity 2026-03-24 16:48:36 · Sentiment: Neutral · Impact: 6/10 · Sources: 3 Leading prediction platforms Kalshi and Polymarket have introduced comprehensive new policies to prohibit insider trading, signaling a major shift toward institutional-grade compliance. These measures aim to protect market integrity and satisfy mounting regulatory pressure following the explosive growth of event-based wagering. Full story: https://getlegalbrief.com/story/kalshi-polymarket-insider-trading-bans-regulation ### Kalshi and Polymarket Ban Insider Trading Amid Rising Senate Pressure 2026-03-24 08:45:54 · Sentiment: Negative · Impact: 7/10 · Sources: 2 Leading prediction platforms Kalshi and Polymarket have implemented strict new prohibitions on insider trading to bolster market integrity. The self-regulatory move comes as U.S. senators introduce legislation aimed at curbing the influence and operation of event-based betting markets. Full story: https://getlegalbrief.com/story/prediction-markets-insider-trading-ban-senate-regulation ### Arizona Files Criminal Charges Against Kalshi in Prediction Market Crackdown 2026-03-18 03:39:21 · Sentiment: Negative · Impact: 6/10 · Sources: 2 Arizona Attorney General Kris Mayes has initiated criminal proceedings against Kalshi, marking a significant escalation in state-level opposition to event-based prediction markets. The move challenges the federal oversight of the Commodity Futures Trading Commission (CFTC) and could redefine the legal boundary between financial derivatives and illegal gambling. Full story: https://getlegalbrief.com/story/arizona-kalshi-criminal-charges-prediction-markets ### Arizona Indicts Kalshi: A New State-Level Front in Prediction Market Regulation 2026-03-17 21:50:20 · Sentiment: Negative · Impact: 6/10 · Sources: 2 Arizona has filed 20 criminal charges against prediction market Kalshi, labeling the platform an illegal gambling operation. This landmark case marks the first time a US state has pursued criminal charges against a federally regulated prediction exchange, signaling a major shift in the regulatory landscape. Full story: https://getlegalbrief.com/story/arizona-kalshi-prediction-market-indictment ### Lawmakers Grapple with Insider Trading Risks in Surging Prediction Markets 2026-03-14 11:38:23 · Sentiment: Neutral · Impact: 6/10 · Sources: 4 As prediction markets for political outcomes experience unprecedented growth, U.S. lawmakers are facing mounting pressure to establish self-policing mechanisms. The intersection of legislative influence and financial stakes in election outcomes has created a regulatory vacuum that challenges existing ethics frameworks. Full story: https://getlegalbrief.com/story/prediction-markets-lawmaker-insider-trading-risks ### California Lawmakers Move to Ban Prediction Markets on War and Terrorism 2026-03-14 01:09:20 · Sentiment: Neutral · Impact: 5/10 · Sources: 2 California legislators have introduced a bill to prohibit wagering on geopolitical conflicts and acts of terrorism, targeting the growing popularity of prediction markets. The move sets a significant regulatory precedent for event-based contracts that profit from human suffering and global instability. Full story: https://getlegalbrief.com/story/california-war-terrorism-betting-ban ### Utah’s Anti-Gambling Stance Triggers Legal Showdown with Prediction Markets 2026-03-12 05:13:01 · Sentiment: Neutral · Impact: 5/10 · Sources: 2 Utah has initiated a legal challenge against prediction platforms Kalshi and Polymarket, citing the state's strict constitutional ban on all forms of gambling. The conflict marks a significant escalation in state-level resistance to the rapidly growing 'event contract' industry. Full story: https://getlegalbrief.com/story/utah-legal-fight-kalshi-polymarket-prediction-markets ### State Regulators Challenge Kalshi and Polymarket Over Sports Betting Compliance 2026-03-08 22:08:16 · Sentiment: Negative · Impact: 6/10 · Sources: 2 State authorities are intensifying scrutiny of prediction markets Kalshi and Polymarket, alleging that their sports-related event contracts constitute unlicensed sports betting. This regulatory pushback threatens to disrupt the expansion of federally regulated and decentralized prediction platforms into the lucrative sports wagering market. Full story: https://getlegalbrief.com/story/state-regulators-challenge-kalshi-polymarket-sports-betting ### Nevada Court Ruling Signals Potential Trading Halt for Kalshi and Polymarket 2026-03-03 11:05:06 · Sentiment: Negative · Impact: 6/10 · Sources: 2 A federal judge has remanded Nevada's legal challenges against prediction markets Kalshi and Polymarket back to state court, enabling state regulators to pursue temporary injunctions. The ruling intensifies regulatory pressure on event-driven trading platforms amid concerns over market integrity and potential insider activity. Full story: https://getlegalbrief.com/story/nevada-court-remand-kalshi-polymarket-trading-halt --- This page is a machine-readable summary. Sentiment measures the directional read of each development for this entity, not the tone of the reporting; impact weights consequence, not syndication reach. See https://getlegalbrief.com/guides/methodology for the full editorial methodology.