Kalshi Will Try Drinking DraftKings, FanDuel's Milkshakes This NFL Season

Watch your backs, DraftKings, FanDuel, and ESPN Bet because Kalshi is stepping on your turf. A legal U.S.-based prediction market and event futures exchange, Kalshi lets users essentially gamble on politics, pop culture, world news, sports, etc. And starting this NFL season, it will offer point spreads, totals, and player props, per Front Office Sports. 

Kalshi’s sports menu is pretty bare currently. Users can "buy contracts" for futures like who will win the Super Bowl, season awards, or team win totals. You can also bet moneylines on individual games (who wins or loses), priced in dollars. The examples below add up to more than $1.00. That’s Kalshi’s cut, similar to a sportsbook’s vig.

But, Kalshi, those smooth criminals, found a loophole in the U.S. legal system. Because, unlike sportsbooks, which are regulated state by state, Kalshi is federally regulated by the Commodity Futures Trading Commission (CFTC). Meaning, it can book action from residents of states where sports betting is still illegal, such as California and Texas. 

Event prediction markets at Kalshi for the upcoming 2025 NFL preseason games. (Courtesy of Kalshi.com). 

To be clear, this isn’t a paid promo for Kalshi. It hasn't paid me a dime. Yet, as a Southern California resident, this is a game-changer. Sure, Kalshi has been around for a few years, but I’d rather bet point spreads than just futures. And soon I’ll be able to, without going through Shohei Ohtani’s former interpreter. (Just kidding.)

Related: PRESIDENT DONALD TRUMP'S ‘BIG, BEAUTIFUL, BILL’ COULD RUIN GAMBLING IN AMERICA 

Of course, these states, and their sportsbook lobbyists, aren't going down without a fight. A federal judge in Maryland ruled he didn't see a difference between regular sports betting and Kalshi. On top of that, three Native American tribes are suing Kalshi in a California federal court. 

However, they, and anyone else challenging Kalshi, might have their hands full. One of its board members, Brian Quintenz, was nominated by President Donald Trump to be the CFTC's next chairman. Also, Trump's son, Donald Jr., is a strategic advisor to Kalshi. 

Time will tell if the courts let Kalshi operate as a de facto nationwide sportsbook. I'm rooting for Kalshi, obviously. Aside from me being a Southern Californian, more competition means better wagering options. Regardless, one thing’s clear: The battle for the future of sports betting just got a lot more interesting.

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Follow me on X (or Twitter, whatever) @Geoffery-Clark, and check out my OutKick Bets Podcast for more betting content and random rants.