Kalshi, a U.S. prediction market platform regulated by the Commodity Futures Trading Commission, has stopped using gambling and betting language in new trademark filings, weeks after earlier applications described parts of its business in terms the company has long avoided publicly.
Sportico first reported that the prediction market platform changed how it describes itself in new applications filed with the U.S. Patent and Trademark Office.
- The change comes after earlier Kalshi trademark filings said the company provided "bookmaking services" and information related to "sports betting" and "gambling tournaments, competitions and contests," per the report.
More context: DraftKings co-founder slams Kalshi, says prediction markets are years behind sportsbooks
But that wording created a paper trail that didn't match Kalshi's public line that its markets are financial products, not bets. The newer filings, including applications for wordmarks such as Kalshi American Power Index and KPOW, use different wording.
Instead of "gambling" or "betting," the new applications describe Kalshi as providing "prediction market services" tied to event contracts, trades, sports, entertainment and current events, Sportico reported.
The new wording also refers to "trades and wagers of event contracts" rather than sports betting or gambling services.
The older filings remain active and still include the previous language, The Coinformer verified.
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