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Tribal Leaders Warn Against Prediction Markets in Lawsuits

4/3/2026

Summary

Story summary

At the Indian Gaming Association's convention in San Diego, tribal leaders warned that prediction markets like Kalshi and Polymarket threaten the industry.
The Ho-Chunk Nation and others have filed lawsuits against Kalshi and Polymarket for violating federal law and state-tribal covenants.
Chairman David Bean of the Indian Gaming Association called the markets unlawful gambling disguised as finance and urged Congress to regulate them, as the association prepares for legal battles.

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Story summary

At the Indian Gaming Association's convention in San Diego, tribal leaders warned that prediction markets like Kalshi and Polymarket threaten the industry.
The Ho-Chunk Nation and others have filed lawsuits against Kalshi and Polymarket for violating federal law and state-tribal covenants.
Chairman David Bean of the Indian Gaming Association called the markets unlawful gambling disguised as finance and urged Congress to regulate them, as the association prepares for legal battles.