The fight over prediction markets: state gambling suits and insider betting

Active · last development Sep 25: “Appeals court rules against Kalshi, says prediction markets can be regulated like gambling”

What this arc covers

The fight over prediction markets such as Kalshi and Polymarket: the states that say they are illegal gambling, including Arizona's criminal charges, Minnesota's ban, which the Trump administration sued over and a federal court halted, the rulings in Washington, Utah and Nevada, New York's lawsuits, New Jersey's request that the Supreme Court shut them down and Missouri's order; and the cases of people accused of betting with inside knowledge, including congressional candidates betting on their own races, the Senate's ban on trading by its members and staff, a Google engineer, George Santos's settlement and lifetime Kalshi ban, and Trump's teleprompter operator.

Photo from Fast Company, with New York sues Polymarket, alleging illegal gambling operation (Sep 24), the story with the most independent sources this week.

Earliest story we hold Mar 17, 2026 · 25 stories · 118 independent sources (counted once each) · 192 days

Where it standsnewest first · each bar runs left to right by leaning

Sep 25– 28Appeals court rules against Kalshi, says prediction markets can be regulated like gambling21 articles · 10 independent sources
0 left, 2 center, 2 right
Sep 24– 25New York sues Polymarket, alleging illegal gambling operation25 articles · 23 independent sources
6 left, 7 center, 3 right
Sep 18– 20Missouri AG orders Kalshi, Polymarket to stop operating prediction markets here6 articles · 5 independent sources
1 left, 2 center, 1 right

Key momentsthe most covered; every story is below

Who covered it, over timeindependent sources per week, by side

Mar 16Apr 27Jun 1Jul 13Aug 17Sep 28

LeftCenterRight

Point at or tap a week to see its count by side.

Every week as a table
Week ofLeftCenterRightArticles
Mar 16, 202698228
Mar 23, 202602010
Apr 20, 202665319
Apr 27, 20262207
May 18, 20264028
May 25, 202612110
Jun 1, 202633211
Jul 13, 202610115113
Jul 20, 202615110
Jul 27, 202610156176
Aug 3, 20261215
Aug 10, 202649218
Aug 17, 20260118
Aug 24, 20261317
Aug 31, 20261415784
Sep 14, 20261216
Sep 21, 202668541
Sep 28, 20260101

Stories before June 28, 2026 come from archived pages, so who covered them is limited to the outlets we recovered for that period.

35% left · 49% center · 16% right of 118 independent sources among the outlets we track, across 25 stories.

Every storyoldest first

  1. March 2026

    Mar 17– 18Arizona AG files criminal charges against Kalshi over 'illegal gambling'26 articles · 25 independent sources
    9 left, 6 center, 2 right
  2. Mar 19MLB partners with Polymarket and makes integrity pact with federal commission on prediction markets6 articles · 4 independent sources
    0 left, 2 center, 1 right
  3. Mar 24Kalshi and Polymarket place new bans on insider trading as senators move to curb prediction markets11 articles · 8 independent sources
    0 left, 2 center, 0 right
  4. April 2026

    Apr 22– 23Kalshi fines and suspends 3 congressional candidates for wagering on their own elections20 articles · 17 independent sources
    6 left, 5 center, 3 right
  5. Apr 30Senate bans prediction market trading by members, staff8 articles · 8 independent sources
    2 left, 2 center, 0 right
  6. May 2026

    May 19– 20Minnesota becomes first state to ban prediction markets, Trump administration sues10 articles · 10 independent sources
    4 left, 0 center, 2 right
  7. May 28Google engineer made $1.2M by placing bets on Polymarket using confidential info, prosecutors allege14 articles · 11 independent sources
    1 left, 2 center, 1 right
  8. June 2026

    Jun 3George Santos reportedly investigated by DoJ over suspicious Kalshi bets7 articles · 7 independent sources
    3 left, 0 center, 2 right
  9. Jun 3George Santos reported to prosecutors over suspicious Kalshi trades, AP source says6 articles · 6 independent sources
    0 left, 3 center, 0 right
  10. July 2026

    Jul 16– 19Trump’s teleprompter operator on unpaid leave for alleged prediction market bets on Trump speeches116 articles · 56 independent sources
    10 left, 11 center, 5 right
  11. Jul 21– 22Washington judge halts Kalshi ‘prediction market’ over state gambling laws10 articles · 7 independent sources
    1 left, 5 center, 1 right
  12. Jul 27– 29Minnesota’s first-in-the-nation law banning prediction markets is halted in federal court26 articles · 26 independent sources
    4 left, 3 center, 4 right
  13. Jul 31– Aug 1New York sues prediction market platform Kalshi alleging 'illegal gambling operation'99 articles · 53 independent sources
    6 left, 12 center, 4 right
  14. Jul 31– Aug 1George Santos agrees to $35,000 settlement in federal probe over Kalshi trades54 articles · 14 independent sources
    0 left, 2 center, 1 right
  15. August 2026

    Aug 4– 6Judge lets Utah enforce state anti-gambling laws on Kalshi5 articles · 4 independent sources
    1 left, 2 center, 1 right
  16. Aug 12– 13New York City Council investigating prediction markets' marketing practices10 articles · 10 independent sources
    2 left, 5 center, 2 right
  17. Aug 13– 14Kalshi ordered to cease most operations in Washington state9 articles · 9 independent sources
    2 left, 4 center, 0 right
  18. Aug 21Polymarket referred dozens of possible military insider trading cases to DOJ, source says8 articles · 8 independent sources
    0 left, 1 center, 1 right
  19. Aug 28– 29Federal appeals court panel gives Nevada a win in its fight to regulate prediction market Kalshi7 articles · 7 independent sources
    1 left, 3 center, 1 right
  20. Aug 31– Sep 1Kalshi bans ex-Congressman George Santos for life after concluding he likely was insider trading63 articles · 49 independent sources
    12 left, 13 center, 7 right
  21. Aug 31– Sep 2North Carolina congressional candidate banned from Kalshi for betting on her own race7 articles · 5 independent sources
    0 left, 3 center, 2 right
  22. September 2026

    Sep 2– 4New Jersey asks Supreme Court to shut down prediction markets16 articles · 16 independent sources
    4 left, 3 center, 2 right
  23. Sep 18– 20Missouri AG orders Kalshi, Polymarket to stop operating prediction markets here6 articles · 5 independent sources
    1 left, 2 center, 1 right
  24. Sep 24– 25New York sues Polymarket, alleging illegal gambling operation25 articles · 23 independent sources
    6 left, 7 center, 3 right
  25. Sep 25– 28Appeals court rules against Kalshi, says prediction markets can be regulated like gambling21 articles · 10 independent sources
    0 left, 2 center, 2 right