The ruling adds to state legal pressure on Kalshi, while the CFTC-regulated prediction market expands U.S. election products with live race odds, polling, fundraising data and campaign coverage.
A Washington state judge granted a preliminary injunction against Kalshi, finding the CFTC-regulated prediction market likely violated Washington gambling law and that consumers faced likely actual and substantial injury if its event contracts remained available there. The decision adds Washington to Massachusetts, Michigan, Nevada and New York among states that have secured court orders restricting Kalshi, highlighting an ongoing dispute over whether federally regulated prediction markets fall under exclusive federal oversight or can also be treated as gambling under state law. Separately, Kalshi launched a U.S. Midterms Hub ahead of the November midterm elections, combining real-time market-implied odds for Senate, House and gubernatorial races with polling averages, Federal Election Commission fundraising data and major-media coverage, as the company continues a broader political-market push and reportedly seeks funding at about a $40 billion valuation.