Prediction market firm Kalshi continued moving into the poker space by recently announcing a deal with The Lodge, which runs two poker clubs in Texas.
“We are happy to announce Kalshi as the new predictive market partner for our livestream!” the company posted on X. The announcement came with an exclusive promotion for new users.
The partnership comes after Kalshi signed Daniel Negreanu as an ambassador in September.
Predicting Poker Winners
Promoting the brand on the Poker at The Lodge livestreams allows the company to further market to poker fans. As part of the action, Kalshi will reportedly be offering event contracts on the results of the streamed games.
This will be the first time the platform has offered markets on the outcome of a poker game. It’s unclear if this is a violation of Commodity Futures Trading Commission (CFTC) regulations.
The CFTC’s Code of Federal Regulations prohibits certain activities from event contracts. Those regulations ban “an agreement, contract, transaction, or swap based upon an excluded commodity … that involves, relates to, or references terrorism, assassination, war, gaming, or an activity that is unlawful under any state or federal law.”
Jury Still Out On Prediction Markets
Prediction market companies have courted controversy since they began offering event contracts on sports in 2025. That has led to allegations the companies are violating state gaming laws. Kalshi has squared off in court against regulators in recent months.
While Kalshi won in court early, a Massachusetts judge ruled against the company in state court last week. Tennessee regulators also recently ordered the platforms to stop offering sports contracts in the Volunteer State. The company lost a lawsuit against Maryland as well.
Prediction markets have also drawn criticism at the federal level. In September, legislators circulated a draft letter to the CFTC outlining some of their concerns about sports prediction markets.
Those included compliance with betting age requirements and other issues that legal sportsbooks must adhere to. The letter questioned whether the companies’ sports offerings are simply a way to skirt state sports betting laws.
