Svmuu News: The Wisconsin Election Commission has stated that residents who purchase contracts related to a specific election on Kalshi or Polymarket may lose their eligibility to vote in that same election. The commission noted that voting while knowing one is ineligible may constitute a Class I felony.
The commission unanimously approved a legal memorandum regarding prediction markets at its July 9 meeting and issued a statewide notice on Tuesday. The restrictions apply only to the specific election in question and do not automatically affect traders’ eligibility to vote in other, unrelated elections.
Benjamin Freeman, head of Kalshi’s election division, said the guidance is “clearly unconstitutional and unlawful,” noting that the company has hundreds of thousands of users in Wisconsin alone. Robert DeNault, Kalshi’s head of enforcement and legal counsel, stated that election markets offered on CFTC-certified and federally regulated exchanges are legal.
A Polymarket spokesperson said the company would respond to the commission’s allegations through appropriate legal channels. Both companies maintain that their products constitute tradable financial contracts rather than gambling.