Utah sues Kalshi as midterm prediction markets top $1.4bn in volume
Utah has filed suit against Kalshi and two Susquehanna firms, Polymarket has sued Ohio, and trading on the midterm elections has passed $1.4bn.
Utah has sued Kalshi and two Susquehanna firms, The Salt Lake Tribune reported on 20 October 2026.
Polymarket, meanwhile, has sued Ohio, according to SBC Americas.
Midterm election markets have topped $1.4bn in trading volume, CNN reported on 23 October. Kalshi accounts for about $1.1bn of that and Polymarket for more than $340m.
Midterm market volume
| Platform | Volume |
|---|---|
| Kalshi | about $1.1bn |
| Polymarket | more than $340m |
| Total midterm markets | more than $1.4bn |
Source: CNN, 23 October 2026.
Sources
- Utah sues Kalshi, saying it’s ‘the manager of a back-alley gambling den’ — The Salt Lake Tribune, 20 Oct 2026
- Prediction Markets Weekly: Yes, there is news outside of court — SBC Americas, 23 Oct 2026
- More than $1.4 billion has been traded on prediction markets for the 2026 midterms — CNN, 23 Oct 2026
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