What Are Kalshi and Polymarket?

Kalshi and Polymarket are platforms that allow users to trade contracts based on the outcomes of future events, including elections, economic data releases, and weather. Kalshi received regulatory approval from the U.S. Commodity Futures Trading Commission in 2023 to operate as a designated contract market. Polymarket operates from offshore and has accumulated billions of dollars in trading volume. Several U.S. states have passed or proposed legislation restricting or banning prediction market trading within their jurisdictions.

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