Wisconsin Warns Trading Election Contracts May Result in Losing Voting Rights in Same Election, Kalshi Calls It Voter Suppression
2026-07-24 05:34
Odaily Planet Daily News: The Wisconsin Elections Commission stated that if residents purchase contracts related to a specific election on Kalshi or Polymarket, they may lose their eligibility to vote in that same election. The commission said that knowingly voting without eligibility could constitute a Class I felony.
The commission unanimously approved a legal memo on prediction markets at a July 9 meeting and released a statewide notice on Tuesday. The restriction applies only to the corresponding election and does not automatically affect a trader's voting eligibility in other unrelated elections.
Benjamin Freeman, head of Kalshi's election division, said the guidance is "clearly unconstitutional and unlawful" and noted that the company has hundreds of thousands of users in Wisconsin alone. Robert DeNault, head of Kalshi's enforcement and legal counsel, stated that election markets certified by the CFTC and offered on federally regulated exchanges are legal.
A Polymarket spokesperson said the company will respond to the commission's claims through appropriate legal procedures. Both companies argue that their products are tradable financial contracts, not gambling.
The commission unanimously approved a legal memo on prediction markets at a July 9 meeting and released a statewide notice on Tuesday. The restriction applies only to the corresponding election and does not automatically affect a trader's voting eligibility in other unrelated elections.
Benjamin Freeman, head of Kalshi's election division, said the guidance is "clearly unconstitutional and unlawful" and noted that the company has hundreds of thousands of users in Wisconsin alone. Robert DeNault, head of Kalshi's enforcement and legal counsel, stated that election markets certified by the CFTC and offered on federally regulated exchanges are legal.
A Polymarket spokesperson said the company will respond to the commission's claims through appropriate legal procedures. Both companies argue that their products are tradable financial contracts, not gambling.
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