Story perspectives

Kalshi Expands Globally Amid Regulatory Concerns Over Gambling

10/16/2025

Summary

Story summary

Kalshi is expanding into over 140 countries, including China and India.
Kalshi has a valuation of approximately $5 billion.
Kalshi recorded $1.3 billion in trading volume for September 2025, capturing 62% of global market share.
States such as Ohio have threatened sportsbook operators over participation in prediction markets, underscoring regulatory pushback.
The American Gaming Association and industry experts warn that these platforms blur trading and gambling, potentially undermining betting standards.

History

Historical Context

The Wire Act of 1961, proposed by Attorney General Robert F. Kennedy to combat organized crime, criminalized interstate sports betting. Over the years, legal interpretations have shifted, notably in 2011 and 2018, regarding its scope. As new platforms like Kalshi emerge, regulatory challenges from states like Ohio reflect ongoing tensions between innovation and established gambling laws, potentially reshaping the industry.

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Story summary

Kalshi is expanding into over 140 countries, including China and India.
Kalshi has a valuation of approximately $5 billion.
Kalshi recorded $1.3 billion in trading volume for September 2025, capturing 62% of global market share.
States such as Ohio have threatened sportsbook operators over participation in prediction markets, underscoring regulatory pushback.
The American Gaming Association and industry experts warn that these platforms blur trading and gambling, potentially undermining betting standards.

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