Kalshi Wins Legal Battle, Launches US Election Betting Contracts

Kalshi, a derivatives exchange, has introduced event contracts for betting on the outcomes of US elections after a court victory in September. Founder Tarek Mansour announced the launch, allowing users to trade legally on aspects like margin of victory and state winners. This marks the first time election prediction markets can operate legally in the US. While Kalshi faces competition from platforms like Polymarket, which has seen $1 billion in bets, Kalshi’s contracts have attracted $775,000. Despite CFTC concerns, analysts argue these markets reflect public sentiment more accurately than polls.