Election betting is booming as the midterms near. Do states have the power to curb it?

By: Jonathan Shorman

Outlets: DC Bureau (States Newsroom)

Published: October 9, 2026

Words: 1,664

Last Updated: 1 week, 1 day ago

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On Friday morning, the prediction market platform Kalshi gave the Democratic candidate in Minnesota’s U.S. Senate race an 87% chance of winning. The volume of trading on the outcome exceeded $1.8 million.

This is exactly the type of activity Minnesota and numerous other states want to shut down.

“They jeopardize people’s trust in government and government decision-making. They jeopardize people’s trust in elections,” said Minnesota state Rep. Emma Greenman, a member of the state’s Democratic-Farmer-Labor Party. She …

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