Kalshi Signs Data Deal with Fox to Expand Prediction Markets Footprint

Prediction market operator Kalshi and Fox Corporation are partnering to distribute Kalshi's prediction market data on several Fox platforms, including Fox News Channel, Fox Business Network, Fox Weather, and the Fox One platform. 

The partnership incorporates real-time probabilities into both traditional broadcasting and online media, introducing an additional element in how large networks cover breaking news stories. The deployment will take place in the context of politics, economics, weather, and culture, and Kalshi will work closely with the Fox crew to incorporate aspects of live data visualization.  

Prediction market apps involve trading based on the likelihood of future events, thereby creating a probability that changes over time. Kalshi reported that most of its audience uses the platform for information rather than trading. 

Around 70% of visitors check forecasts, while 30% place trades. That usage split has shaped how the company positions its data, which is increasingly referenced alongside polling and expert analysis. 

The information provided by Kalshi has been used in research by entities such as the Federal Reserve, while politicians have started mentioning market probabilities in their speeches. According to Kalshi co-founder and CEO Tarek Mansour, markets complement existing information sources by offering another perspective on contemporary issues.  

“More people are watching Kalshi’s forecasts than trading them, which says a lot: our data effectively complements news and polls,” he said. “As misinformation grows more common, Kalshi offers accurate, unbiased data to help people better understand what’s going on in the world.” 

Washington lawsuit challenges business model 

Kalshi's growth is occurring amid ongoing legal proceedings in Washington State over how its business model aligns with regulations. Last week, Attorney General Nick Brown filed a case alleging that the company operates an illegal gambling website by selling contracts for real-world events, such as sports matches and elections. 

In essence, the state argues that the company offers gambling, according to the complaint. Officials said the platform mirrors sportsbook activity, citing contracts that resemble point spreads, totals, and prop bets. Online Washington sports betting is prohibited, as internet gambling has been banned since 2006. 

State regulators are seeking to block Kalshi's operations, recover funds from residents, and impose civil penalties. The lawsuit also highlights marketing language suggesting users can bet on anything, including references to NFL games, despite state restrictions. 

Brown said the platform turns a wide range of events into wagering opportunities, including sensitive situations. Kalshi maintains it operates as a regulated prediction market rather than a gambling product. 

The case focuses on whether these markets fall under financial regulation or existing gambling laws. That distinction will likely determine how similar platforms are regulated across the US.