Thursday, September 10, 2026 Independent journalism
Kalshi's trading data reveals sports and crypto contracts dominate as legal battle over swap classification intensifies iGaming

Kalshi's trading data reveals sports and crypto contracts dominate as legal battle over swap classification intensifies

Analysis of Kalshi's trade records shows 95% of customer stakes went to contested contracts while only 0.6% went to undisputed swaps, as federal courts split on whether prediction markets qualify under the Commodity Exchange Act. The exchange's rapid growth to $11.4 billion monthly volume raises fundamental questions about regulatory jurisdiction.