Washington Court Orders Kalshi to Halt Most Prediction Markets in State
Summary
A Washington court issued a final order requiring Kalshi to stop offering sports, election, politics, entertainment, culture, technology, science, and 'mentions' contracts in the state. The company must implement IP and residency geofencing by Aug. 19 and a multi-source system by Sept. 2, and is barred from advertising restricted wagers. Commodities, climate, economics, and finance contracts remain allowed. This follows a preliminary injunction from July and a denied stay by the Washington Court of Appeals. The order adds to mounting state enforcement pressure, including New York's lawsuit and a new Baltimore suit against Kalshi and Polymarket. The geofencing deadlines and advertising ban create immediate operational and compliance costs, while the exclusion of certain contract types limits revenue impact. Watch for Kalshi's response and any appeal, as well as further state actions.
This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: The Block.