Maryland users trade $1.1M on election prediction markets despite betting ban

More than $1.1 million in trades related to Maryland elections has been recorded on prediction market platforms Kalshi and Polymarket, according to an analysis by the Baltimore Sun. These platforms allow users to buy yes or no contracts on election outcomes for less than $1 each, with winning contracts paying $1 before fees.

Maryland’s top election official, State Elections Administrator Jared DeMarinis, has expressed concern that such trading could violate the state’s election-betting ban. In July, he requested the Office of the State Prosecutor to investigate whether these prediction-market contracts break Maryland election laws.

With Election Day just two days away, the Office of the State Prosecutor has not disclosed whether any action has been taken regarding the investigation. The $1.1 million trading volume covers Kalshi and Polymarket’s international platforms but excludes smaller platforms and Polymarket’s U.S. platform, which does not publish similar data.