Kalshi ordered to stop broad range of prediction markets in Washington

Kalshi must implement initial geofencing by Aug. 19 and a GeoComply multi-source geofencing system by Sept. 2.

A Washington state judge has ordered prediction market platform Kalshi to stop offering a broad range of event contracts in the state, rejecting its argument that federal commodities law preempts Washington gambling law.

King County Superior Court Judge John McHale barred Kalshi from offering contracts tied to sports, elections, politics, entertainment, culture, tech and science, and “mentions.” Contracts involving commodities, climate, economics and finance are exempt.

“We’re holding Kalshi accountable for running an illegal gambling operation,” Washington Attorney General Nick Brown said Thursday on X, citing a recent court ruling. 

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Source: https://cointelegraph.com/news/kalshi-stop-prediction-market-contracts-washington?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound