Kalshi Says U.S. States Lack Jurisdiction to Regulate Prediction Markets

Kalshi’s public relations head said U.S. states do not have jurisdiction to regulate prediction markets, and that multiple courts, including the U.S. Court of Appeals for the Third Circuit, have clarified this legal boundary through precedent. According to Odaily, Kalshi said it was disappointed that Washington state continues to use public funds to pursue related regulatory actions and argued that regulation of prediction markets should be handled at the federal level.