Case: 25-7516, 01/23/2026, DktEntry: 33.1, Page 28 of 110
total number of points scored, the winning margin, and which players would
score touchdowns. Id.
Kalshi’s products “are sports wagers and everyone who sees them
knows it.” 1-ER-17. The following screenshots illustrate the point, showing
that Kalshi’s offerings are just like those of sportsbooks like DraftKings:
DraftKings
Kalshi
@DustinGouker, X (Nov. 28, 2025), perma.cc/7QCF-HF7C.
Kalshi does not deny that it offers sports betting. Indeed, Kalshi ad-
vertises itself as providing “legal sports betting in all 50 states”:
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