FILE - An ad for the prediction market app Kalshi is displayed on a mobile phone on April 16, 2026, in Chicago. (AP Photo/Erin Hooley, File)
Erin Hooley/AP Photo/Erin Hooley/AP
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Erin Hooley/AP Photo/Erin Hooley/AP
The betting site Kalshi emerged as a dominant sports betting platform during the World Cup. But the company avoids billions of dollars in taxes by insisting it is not a sports gambling operator.
FILE - An ad for the prediction market app Kalshi is displayed on a mobile phone on April 16, 2026, in Chicago. (AP Photo/Erin Hooley, File)
Erin Hooley/AP Photo/Erin Hooley/AP
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Erin Hooley/AP Photo/Erin Hooley/AP

Kalshi’s Core Business May Already Be in Serious Trouble

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On Kalshi, people have placed bets on everything from football games to foreign affairs. The prediction market’s CEO, Tarek…

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