History of Kalshi in Timeline

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Kalshi

Kalshi is a web-based prediction market platform launched in July 2021 and based in Manhattan, New York City. While it offers prediction markets on various topics, its primary focus and revenue source is sports betting. A significant portion of the platform's activity is directly linked to the sports calendar, indicating a strong reliance on sports-related events for user engagement.

July 2021: Kalshi Launch

In July 2021, Kalshi Inc., a web-based prediction market platform, was launched in Manhattan, New York City.

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September 2023: CFTC Rejection and Lawsuit

In September 2023, the CFTC rejected Kalshi's congressional control contracts, leading Kalshi to sue the agency, claiming it exceeded its authority.

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July 2025: Federal Lawsuit by Californian Tribes

In July 2025, three Californian tribes filed a federal lawsuit against Kalshi, alleging that it is conducting illegal sports gambling on tribal lands in violation of federal gaming laws.

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September 2025: Lawsuit by Massachusetts Attorney General

In September 2025, Massachusetts Attorney General Andrea Campbell filed a lawsuit against Kalshi, accusing it of "promoting and accepting sports wagers" without following Massachusetts gambling laws.

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November 2025: Proposed Class Action Lawsuit in New York

In November 2025, a proposed class action lawsuit was filed against Kalshi in New York state, alleging illegal deceptive activity and unjust enrichment through unlicensed sports betting.

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2025: Robinhood Prediction Markets Hub Infrastructure

In 2025, Kalshi became the infrastructure for Robinhood's event contracts Prediction Markets Hub.

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2025: Partnerships with CNN and CNBC

In 2025, Kalshi signed formal partnerships with media outlets CNN and CNBC, potentially bringing betting odds into NFL television broadcasts.

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2025: Student Ambassador Program Backlash

In 2025, Kalshi's efforts to create a "student ambassadors" program to promote Kalshi on campuses faced backlash, leading to the removal of related social media posts and webpages.

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