March Madness Market Handle Boost by Kalshi Revealed
Title: The Soaring Success of Kalshi's Prediction Market Amidst Legal Tussles
Byline: Mike (Exploring the gamified investment world, one prediction at a time) (04/11/2025 06:53)
Highlights
- Kalshi's prediction market witnessing a trading volume of over half a billion during March Madness
- A legal dance between Kalshi and six states, as cease and desist letters are sent their way
- A Nevada judge's ruling declares the state powerless to regulate this unique market
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The intriguing tale of Kalshi's prediction market unfolds amidst the shroud of legal controversy. As states like Maryland issue cease and desist letters, claiming that Kalshi's activities are akin to sports betting and requiring state licenses[2], Kalshi defends its operations, asserting that it falls under federal oversight—specifically the jurisdiction of the Commodity Futures Trading Commission (CFTC), given it operates as a CFTC-designated contract market[3][5].
Recent legal triumphs, such as the April 2025 Nevada District Court ruling and the September 2024 decision by the U.S. District Court for the District of Columbia, challenge state-level regulations and allow Kalshi to operate nationwide[3]. However, the legal saga, with ongoing litigation and discussions, continues to unfold, with states such as Nevada and New Jersey witnessing favorable judgments, enabling Kalshi to keep its operations running in these jurisdictions[2]. Yet the broader legal battle remains a work in progress. 🤝🔥💥
In the ever-evolving world of online casinos, Mike delves into Kalshi's prediction market, a unique platform resembling sports betting that has gained significant traction. With its operations under scrutiny by several states due to its sports-related nature, Kalshi has argued for federal oversight, citing the Commodity Futures Trading Commission (CFTC) as its regulatory body, given its designation as a CFTC-regulated contract market.
