Four tribes partner with Kalshi to launch prediction apps–a move that undercuts Native American opposition to the industry
Source: Fortune ·
For tribes left out of the $46 billion casino boom, a disputed industry offers a different path.
From the source
A crack is forming in Indian Country’s united front against prediction markets. On Tuesday, four tribes from California and Oklahoma launched prediction apps in partnership with Kalshi, one of the industry’s leading event contract platforms. The partnerships underscore a divide between tribes that see prediction markets as a new source of income, and those that view them as a threat to the revenue they generate from traditional casinos. Alabama-Quassarte Tribal Town in Oklahoma launched PokkeTrades, while three California tribes launched their own apps: Kletsel Dehe Wintun Nation introduced Sovereign Edge through its economic arm, KEDA; Greenville Rancheria launched Greenville; and Alturas Indian Rancheria launched AIR Markets, according to a press release Kalshi shared with Fortune. “These markets offer tribes a chance to participate in an emerging industry, especially those whose geography has limited revenue generation,” said Michael Stopp, vice president for economic development…