Kalshi launches its Spanish version after the World Cup jump
The proportion of Kalshi users with their devices set to Spanish has multiplied fivefold since the beginning of the year and now reaches at least 12 percent of the total. This data explains the prediction market platform's decision to launch a Spanish version that covers all screens, the help center, and the rules.
The Spanish-speaking base is concentrated in states like California, Texas, Arizona, and Florida, and grew significantly with the 2026 World Cup approaching. According to data from H2 Gambling Capital, predictive markets accounted for 27 percent of the betting volume in the United States during the World Cup, and users who joined for the football tournament later extended their activity to contracts on elections, economics, and entertainment.
The profile of this audience, however, is still mostly passive. Up to 68 percent of Spanish-speaking users utilize the tool only to consult information, without making transactions, a margin that the company seeks to convert by eliminating the language barrier.
The commercial move comes at the worst regulatory moment for the company. A week ago, a three-judge panel of the Ninth Circuit Court of Appeals unanimously determined that states can regulate prediction markets as gambling, in one of the biggest judicial victories obtained so far by state jurisdictions in their dispute with these platforms.
The case originated in Nevada, where regulators tried to prevent Kalshi from offering contracts linked to sports events. The company, like the rest of the sector, maintains that its products are federally regulated financial derivatives and therefore fall outside the scope of state gambling laws. With the backing of the Donald Trump administration, these platforms sought to position themselves as financial exchanges under the supervision of the Commodity Futures Trading Commission, which authorizes them to offer contracts on future events. Conversely, 44 states argue that certain products constitute betting in practice and should be subject to state regulations and taxes.
Kalshi is a US-based event contract market that obtained CFTC designation to operate as a regulated exchange and has been operating since 2021, with a catalog ranging from election results and macroeconomic variables to sports and cultural events.
Tags: Kalshi, prediction markets in the United States, Ninth Circuit Court of Appeals