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Everything is gambling now: the latest news on prediction markets like Polymarket and Kalshi

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Thomas Ricker
Washington state blocks Kalshi.

A state court has granted a preliminary injunction against Kalshi, ruling its sports-related “event contracts” likely violate state online gambling bans. The judge rejected Kalshi’s defense that federal CFTC regulation shields it from state enforcement. Kalshi will likely have to geoblock Washington residents, marking yet another legal setback for prediction markets.

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