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

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 […]