Wisconsin residents could lose voting rights over prediction market bets

( Hill )

Wisconsin’s Election Commission (WEC) warned in a statement on Tuesday that betting on elections that you cast ballots in is illegal in the state and there will be consequences.

“We want voters to understand that they cannot legally make a bet on an election and cast a ballot in that same election,” WEC Administrator Meagan Wolfe said, noting it is important for voters to understand that it is a Class I felony. 

The statement outlined that voters who vote after placing a bet on elections may be subject to voter qualification administrative challenges. This would, if the challenge is successful, inhibit a Wisconsin resident from voting.

So far, prediction market users have spent nearly $200 million on midterm elections according to a report by NBC News. Before this, users of Polymarket placed $3.2 billion in bets on Election Day in 2024 on the presidential election between President Trump and former Vice President Kamala Harris. 

Kalshi’s Head of Enforcement and Legal Counsel Robert J. DeNault pushed back on the WEC and asserted in a post on X, stating that “the Wisconsin Elections Commission should retract this guidance before courts are required to force them to do so.”

“Election markets certified by the CFTC and available on federally regulated exchanges are legal,” DeNault added.

He was supported by Kalshi’s Politics Growth Benjamin Freeman who said in a post on X, “THIS IS INSANE” and further added that it was “active voter suppression.” 

Governor Tony Evers (D-Wis.) has already banned all Wisconsin state executive branch employees from disclosing nonpublic information related to their office to family and friends to profit from and betting themselves. 

In response to allegations made by Kalshi which were reported to the CFTC, the White House had to suspend its teleprompter operator over claims he was placing bets on President Trump’s speeches.

“We are not able to police someone placing a bet on these platforms, but it’s important for voters to understand the consequences if they bet on an election outcome,” Wolfe said.

The Hill reached out to the White House for comment regarding the statement from Wisconsin’s Election Commission.