House Panel Weighs Federal Rules for Kalshi and Polymarket Sports Betting

Kalshi and Polymarket face mounting legal and regulatory scrutiny as courts and Congress simultaneously wrestle with whether sports event contracts constitute illegal gambling.

A House panel is reviewing proposed federal rules governing Kalshi and Polymarket sports prediction markets, adding a congressional legislative track to the Washington State preliminary injunction against Kalshi issued in the prior period. Kalshi separately announced it will appeal the state court ruling and filed with regulators seeking approval for gold, silver, and platinum perpetual contracts.