Kalshi spokesperson says states lack authority to regulate prediction markets

Kalshi spokesperson Jacki McGavick said on X that state governments have no authority to regulate prediction markets and that several courts, including the Third Circuit Court of Appeals, have made that clear. McGavick added it was disappointing that Washington state kept wasting taxpayer money. The comments were a rebuttal to a recent ruling by a Washington state court that issued a preliminary injunction against Kalshi and found the company’s service constituted illegal gambling under state law. A preliminary injunction is a temporary measure that bars specific conduct until a final ruling, raising the possibility that Kalshi’s service could be suspended in Washington state.