Predicting or gambling? New markets invade all areas of society

By: Niki Kelly

Outlets: Indiana Capital Chronicle

Published: October 16, 2026

Words: 861

Last Updated: 1 day, 18 hours ago

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Prediction markets are bending the common definition of gambling — and states across the nation are pushing back.

Kalshi is the first federally regulated financial exchange in the United States dedicated to trading on the outcomes of future events. It handled billions in weekly contract volume. And it’s battling in court with 21 states.

Whether Indiana will join its name to that list could be a topic in the 2027 legislative session.

But it’s …

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