National Advertising Division Will Refer Kalshi to Regulatory Authorities for Failure to Participate in Inquiry
New York, NY - June 8, 2026 - As part of its marketplace monitoring program, BBB National Programs' National Advertising Division will refer Kalshi Inc. to the appropriate regulatory authorities, including relevant state Attorneys General, for review and possible enforcement action for failure to participate in the National Advertising Division (NAD) inquiry.
Kalshi is an online prediction market platform that allows participants to take positions and trade on whether specified events will occur, including events related to politics, economics, sports-adjacent outcomes, entertainment, weather, and other real-world developments.
At issue for NAD was whether material connections between Kalshi and influencers or affiliates were clearly and conspicuously disclosed in social media advertising, and whether Kalshi takes adequate steps to ensure compliance with the Federal Trade Commission's Guides Concerning the Use of Endorsements and Testimonials in Advertising.
Kalshi declined to participate in the NAD self-regulatory process. Accordingly, NAD will refer this matter to the appropriate regulatory authorities, including relevant state Attorneys General, and to the platforms on which the advertising appeared and with which NAD has reporting relationships pursuant to Section 2.1(I)(3) of the NAD/NARB Procedures.
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. Pursuant to NAD/NARB Procedures, this release may not be used for promotional purposes.
Kalshi is an online prediction market platform that allows participants to take positions and trade on whether specified events will occur, including events related to politics, economics, sports-adjacent outcomes, entertainment, weather, and other real-world developments.
At issue for NAD was whether material connections between Kalshi and influencers or affiliates were clearly and conspicuously disclosed in social media advertising, and whether Kalshi takes adequate steps to ensure compliance with the Federal Trade Commission's Guides Concerning the Use of Endorsements and Testimonials in Advertising.
Kalshi declined to participate in the NAD self-regulatory process. Accordingly, NAD will refer this matter to the appropriate regulatory authorities, including relevant state Attorneys General, and to the platforms on which the advertising appeared and with which NAD has reporting relationships pursuant to Section 2.1(I)(3) of the NAD/NARB Procedures.
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. Pursuant to NAD/NARB Procedures, this release may not be used for promotional purposes.