BBB Advertising Watchdog Refers Kalshi to Regulators Over Influencer Inquiry

The Better Business Bureau's National Advertising Division is referring prediction market platform Kalshi to regulatory authorities after the company declined to participate in a review of its social media advertising practices. NAD said it will notify the appropriate authorities, including relevant state attorneys general, and will inform the social platforms where the advertising appeared.

The inquiry examined whether influencers and affiliates clearly disclosed paid relationships in social media promotions and whether Kalshi took adequate steps to comply with Federal Trade Commission endorsement guidelines. Because the company declined NAD's voluntary self-regulatory review, the BBB said it would refer the matter for possible enforcement action.

Media Matters for America highlighted Kalshi's viral campaigns on TikTok and Instagram that promoted prediction trading as a 'side hustle.' The platform also added crypto influencer John Wang in August.

United States

kalshi, bbb, nad, influencers, disclosures, ftc guidelines, tiktok, instagram, prediction markets, regulators