Hanaway says prediction markets should pay up in Missouri
What do you think?
Should you be allowed to legally make a bet on an election? More and more states are saying no!
Missouri Attorney General Catherine Hanaway says prediction markets offering bets on Chiefs games should pay the same taxes and follow the same rules as Missouri sportsbooks. But she believes lawmakers must decide whether betting on elections should be legal.
Hanaway said her office is examining companies such as Kalshi and platforms including Robinhood that offer sports-related event contracts under federal regulation.
“If these prediction markets allow sports betting on their platforms, then we think they should pay the same taxes as any of those other platforms and have the same regulatory structure,” Hanaway said.
Missouri launched legal sports betting in December 2025. Licensed operators are regulated by the Missouri Gaming Commission and pay a 10% tax on adjusted gross revenue.
Election wagering remains murkier. Missouri has no law explicitly addressing it, while 32 states restrict election betting in at least some circumstances.
“With respect to whether they should be allowed to bet on the election, that to me is an issue for the legislature,” Hanaway said. “It’s my job to enforce the law.”
Prediction-market companies argue their contracts are financial products regulated by the Commodity Futures Trading Commission. States contend sports and election contracts function as bets and should fall under state gambling laws.
A federal appeals court recently ruled that Kalshi’s sports contracts are sports bets, allowing Nevada to enforce its gambling laws. Questions about election contracts were sent back to a lower court.
“When it’s a bet, it’s historically been left to the states to regulate the gambling markets,” Hanaway said.
