BBB refers prediction market Kalshi to state regulators over ad inquiry

Written by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorWritten by Sam Bourgistaff writerReviewed by Robert Lakinstaff editorBBB refers prediction market Kalshi to state regulators over ad inquiryLatest NewsPublishedJun 9, 2026A BBB advertising watchdog escalated its review of Kalshi after the prediction market platform declined to participate in an inquiry into influencer disclosure practices.The Better Business Bureau’s (BBB) National Advertising Division (NAD) is referring prediction market platform Kalshi to regulatory authorities after the company declined to participate in an inquiry into its social media advertising practices, adding another layer of scrutiny to the fast-growing event trading platform.In a statement published Monday, NAD said it will refer the matter to the appropriate regulatory authorities, including relevant state Attorneys General, for possible enforcement action.The inquiry examined whether Kalshi’s influencers and affiliates clearly disclosed paid relationships in social media promotions and whether the company took adequate steps to comply with Federal Trade Commission endorsement guidelines.According to the BBB, Kalshi declined to participate in NAD’s voluntary self-regulatory review of its advertising practices. As a result, the organization will also notify the social media platforms where the advertising appeared.“At issue for NAD was whether material connections between Kalshi and influencers or affiliates were clearly and conspicuously disclosed in social media advertising,” BBB said.Crypto influencer John Wang joined Kalshi in August. Source: John Wang on X.com.Kalshi’s advertising practices have also drawn scrutiny from Media Matters for America, a nonprofit media watchdog organization, which highlighted the platform's viral marketing campaigns on TikTok and Instagram that promoted prediction trading as a “side hustle.”Related: Kalshi joins Polymarket in sweeping user bans to head off insider tradingPrediction m…

BBB refers prediction market Kalshi to state regulators over ad inquiry

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