Kalshi attacks a Wisconsin law banning election bets as 'voter suppression'
11 hours ago
- Kalshi criticized a Wisconsin election commission advisory reminding voters that betting on an election where they vote is illegal under an 1849 state law, calling it 'voter suppression'.
- The Wisconsin Elections Commission issued the advisory to clarify existing law, which prohibits election betting and could disqualify ballots or lead to prosecution.
- Kalshi and other prediction markets face legal battles with nearly half of U.S. states over whether they are gambling operators or financial products under federal oversight.
- Election experts warn that betting on elections raises integrity concerns, including potential insider trading, manipulation by foreign actors, and influence on voter behavior.
- Kalshi argues that election betting engages new voters, but critics dismiss this, noting the company does not fund voter turnout efforts.