The Kalshi Washington ruling is not just another legal skirmish over a new betting product. It is a warning shot for bettors who have been told prediction markets are simply smarter, cleaner, more flexible alternatives to sportsbooks.
Washington’s move matters because it challenges the sales pitch at the center of event-contract platforms: that buying and selling “yes” or “no” positions is fundamentally different from placing a wager. Bettors who already … Read the rest










