Kalshi says it's not a sportsbook even as World Cup bets surge

The betting site Kalshi emerged as a dominant sports betting platform during the World Cup. But the company avoids billions of dollars in taxes by insisting it is not a sports gambling operator.

<img src='https://npr.brightspotcdn.com/dims3/default/strip/false/crop/8199x5466+0+0/resize/8199x5466!/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2F9a%2F8c%2F091b62304d3cb04ae942c12dd928%2Fap26106744495179.jpg' alt='FILE - An ad for the prediction market app Kalshi is displayed on a mobile phone on April 16, 2026, in Chicago. (AP Photo/Erin Hooley, File)'/><p>The betting site Kalshi emerged as a dominant sports betting platform during the World Cup. But the company avoids billions of dollars in taxes by insisting it is not a sports gambling operator.</p><p>(Image credit: Erin Hooley/AP Photo/Erin Hooley)</p><img src='https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=nx-s1-5884848' />