The Legal Battle Over Prediction Markets Isn’t Just About Gambling Law

The latest clash between prediction market platforms and state legislatures has less to do with any intentional violation of the law and more to do with a debate over a fundamental question: are these federally regulated markets, or gambling...

Apr 30, 2026 - 06:10
The Legal Battle Over Prediction Markets Isn’t Just About Gambling Law
Lead image, kalshi with court in background

The latest clash between prediction market platforms and state legislatures has less to do with any intentional violation of the law and more to do with a debate over a fundamental question: are these federally regulated markets, or gambling...