Wisconsin Elections Commission warned voters cannot legally cast ballots in elections they bet on, opening a new front in the legal battle between prediction markets and state regulators. Kalshi, the country's largest prediction-market operator, accused the commission of "active voter suppression" and noted it has hundreds of thousands of users in the state.

Milwaukee resident Brian Hildebrand, 39, supports the warning, calling election betting a "perversion of democracy" in a swing state where much is at stake. "The electoral process is not one about greed," said the software developer.

Kalshi launched a midterm elections hub showing real-time forecasts based on user bets. Users can wager on Wisconsin races including the gubernatorial and attorney general contests.