Iran · The Block
Washington court orders Kalshi to halt most prediction market offerings in state
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A Washington court issued a final order requiring Kalshi to cease offering a wide range of event contracts in the state, after finding the company likely violated its gambling regulations.
Key facts
- Kalshi must adopt an IP address and residency-based geofence by Aug. 19 and a multi-source geofencing system by Sept. 2 to prevent users in Washington from accessing the restricted markets on Kalshi
- Kalshi has gotten rich promoting wagers on sports, elections, natural disasters, events related to the Iran War, and more
- Under this order, Kalshi is banned from offering wagers on most of those topics in Washington," said Attorney General Nick Brown
- Kalshi sought a stay from the Washington Court of Appeals, which denied the request
Summary
The order directs Kalshi to stop accepting or facilitating bets on sports, elections, politics, entertainment, culture, technology and science, or "mentions" in Washington. Kalshi must adopt an IP address and residency-based geofence by Aug. 19 and a multi-source geofencing system by Sept. 2 to prevent users in Washington from accessing the restricted markets on Kalshi. "Kalshi has gotten rich promoting wagers on sports, elections, natural disasters, events related to the Iran War, and more. The Washington court, however, did not restrict access to all products on Kalshi, contracts related to commodities, climate, economics and finance may continue to be offered in the state.