Kalshi and Polymarket: ‘Gambling’ or ‘Financial Instruments’?

This article explores whether prediction platforms like Kalshi and Polymarket are legitimate financial markets or illegal gambling. While they claim to be regulated markets trading on real-world outcomes, many states and authorities see them as unlicensed gambling operations. Legal disputes, court rulings, and cases like insider trading highlight the blurred lines between betting and investing. Ultimately, the core issue is how these platforms are used—whether for risk management or entertainment—and whether laws should focus on their structure or actual user behavior.Read More