The Tunica-Biloxi Tribe of Louisiana plans to launch a prediction-market app powered by Kalshi, the $22 billion industry leader, creating a new business owned and operated by the tribe. The partnership will allow customers to bet on real-world events such as sports, commodity prices, and weather through the platform, with Kalshi providing market infrastructure and the two splitting revenue. Chairman Marshall Pierite said the venture allows the tribe of about 1,600 members to enter a rapidly growing financial market and could serve as a model for other tribes, especially those without major casino operations. Tunica-Biloxi also runs Paragon, a casino and resort in central Louisiana.

The move contrasts with other Native American tribes that have opposed prediction markets. On Wednesday, a federal appeals court panel blocked Kalshi from offering contracts within the territories of two California tribes that have not authorized such businesses. This week, representatives from 17 tribes met with the Commodity Futures Trading Commission (C.F.T.C.) to express concerns that rule-making threatens tribal sovereignty and gaming operations. A C.F.T.C. decision on Thursday cleared the way for apps to let users trade in regulated derivatives, enabling the Tunica-Biloxi venture.

Kalshi CEO Tarek Mansour said the partnership shows prediction markets and tribal economic development need not be a fight, adding that Indian Country should have more paths to economic self-determination. The company has faced lawsuits from nearly two dozen states arguing it skirts gambling laws and avoids billions in tax revenue, while Kalshi maintains it operates a federally regulated derivatives platform.