Kalshi Approved For Margin Trading As Washington State Sues It For Illegal Gambling

Benzinga_recent_news04:58

Kalshi was approved for margin trading on the same day Washington’s attorney general sued it for running an illegal gambling operation. The prediction market platform secured a futures commission ...

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The license would let institutional users open positions without posting the full amount of capital, a feature hedge funds have been waiting for.\nKalshi CEO Tarek Mansour said a margin product would be coming “soon.” He noted capital efficiency is the main barrier keeping institutions off the platform.\nHours later, Washington Attorney General Nick Brown filed a lawsuit alleging Kalshi violates the state’s Gambling Act and Consumer Protection Act by allowing residents bet on sports, elections, and events, including Iran war outcomes and measles case totals.\nThe lawsuit specifically flags a Kalshi ad featuring a text conversation about betting on the NFL from Washington state.\nThe AG’s office also flagged that Kalshi reportedly attempted to recruit a 15-year-old influencer and has targeted college students between 18 and 21 as a core growth demographic.\nThe margin approval signals Kalshi is building institutional-grade infrastructure, even as political and legal pressure grows. \nBrokers are already working to open hedge fund access to event contracts. \nRobinhood Markets (NASDAQ:HOOD) CEO Vlad Tenev has called prediction markets the fastest-growing business in company history. \nThe Ninth Circuit is expected to rule on Kalshi’s federal preemption argument by mid-2026. That decision will likely determine whether the platform’s 50-state model survives.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.38.0","shortVersion":"4.38.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2622380391","isCrawlerRequest":true}