Get ready for legalized betting as soon as next week on whether Democrats will take back control of the U.S. House of Representatives in November.
Kalshi will make its congressional-control contracts available to users for trading next week and will move quickly to list other kinds of political-event contracts, said Luana Lopes Lara, one of the co-founders of Kalshi, in an interview.
“Election markets are now legal in the United States for the first time in 100 years. Americans will finally be able to trade the election on a U.S.-regulated market,” the startup’s CEO and co-founder, Tarek Mansour, said in a statement.
Friday’s ruling comes as bettors have placed hundreds of millions of dollars of wagers on the November presidential election on Polymarket, a crypto-based prediction market that is off-limits to Americans since it reached a 2022 settlement with the CFTC.


Barely confident at all. Dems will try to cheat just like last time. Hell, they're already cheating by installing Kacklala over the voters' choice of Old Joe. Republicans a threat to democracy? Yeah, my ass. Dems don't do anything by the rules, ever. Betting on this election is really just betting whether Dems will successfully undermine it.