TLDR The Wisconsin Elections Commission says trading election prediction contracts may count as an illegal bet under state law. Voters who trade on platforms like Kalshi and Polymarket could be barred from voting in that same election. Wisconsin Statute § 6.03(2) disqualifies voters who make a bet tied to an election outcome. Kalshi and Polymarket reject the Commission’s interpretation and call it dangerous to democracy. Wisconsin is fighting prediction markets on several legal fronts, including a lawsuit and a tribal gaming dispute.
The Wisconsin Elections Commission has issued a warning to residents who trade election prediction contracts. The Commission says this activity could count as a bet under state law.
That means anyone who trades on these contracts might lose the right to vote in that same election. The warning comes from a legal memo the Commission approved on July 9.
Staff directed the Commission to inform voters about the risk. Under state law, a person can face a felony charge for voting after placing this kind of bet.
What the Commission Found
Wisconsin Statute 6.03(2) disqualifies voters who become interested in a bet tied to an election result. The Commission believes trading on prediction markets fits that description.
Wisconsin Elections Commission Administrator Meagan Wolfe explained the goal of the warning. She said voters need to understand they cannot legally bet on an election and then vote in it.
Wolfe said the Commission cannot police people using these trading platforms. But she said residents should know the possible consequences before they trade.
The memo defines a bet as an agreement where one side wins or loses money based on chance. Staff wrote that a trader who profits or loses money based on an election outcome fits that description.
The Commission did not say whether trading on these