Kalshi bans Santos, fines him $71,356 for trades
#GeorgeSantos #KalshiKalshi banned George Santos for life and fined him $71,356 for alleged insider trading, following suspicious State of the Union bets after Trump commuted his sentence. The prediction platform flagged unlawful trades and referred him to the DOJ. read more
Weather Channel Adds Betting Odds to Forecasts
#Kalshi #WeatherBettingKalshi partners with The Weather Company to display prediction market odds on forecasts, enabling bets on temperatures and weather trends. Critics warn about gambling on disasters and potential tampering, while trading volume surges 500% yearly. read more
George Santos Settles Probe Over State of Union Bets
#GeorgeSantos #KalshiGeorge Santos agreed to a $35,000 settlement with federal regulators over Kalshi bets against his State of the Union attendance, forfeiting profits and facing a trading ban, while denying wrongdoing. read more
Kalshi sues Wisconsin over election betting ban
#ElectionBetting #KalshiKalshi attacks Wisconsin’s 1849 law banning election bets as "voter suppression," arguing it discourages participation. The state says wagering on a race you vote in could disqualify ballots or lead to prosecution, sparking legal battles over prediction market regulation. read more
Kalshi World Cup surge sparks sportsbook versus financial app debate
#Kalshi #PredictionMarketsKalshi denies being a sportsbook despite $25 billion in World Cup bets, arguing it’s a federally regulated financial product. Critics call it a tax-evading loophole, as states and sportsbooks challenge its legality in over 20 lawsuits. read more