Fox Corporation and Kalshi, a betting platform for current events, have signed a deal allowing Fox to use Kalshi’s data alongside its reporting on Fox News, Fox Business, Fox Weather, and Fox’s streaming platform, Fox One.
The controversial product placement mirrors similar deals with CNN and CNBC. Kalshi allows users to bet on real-world events, effectively turning everything from elections to sports to entertainment into a form of gambling — or as Kalshi calls it, a “prediction market.”
In a statement, Fox said Kalshi will “work directly with FOX data and production teams to provide real-time data access for seamless data visualization around key political, economic, weather and cultural storylines.”
On a rival platform called Polymarket, for instance, bettors were allowed put money on the fate of the American F-15 pilot shot down in Iran. Users also placed bets on the length of President Donald Trump’s State of the Union speech, and one person made $400,000 betting on the capture of Venezuelan leader Nicolas Maduro. Polymarket is backed by Donald Trump, Jr.
Efforts to regulate the industry have been opposed by the Trump administration.
Last week, the Commodity Futures Trading Commission sued Arizona, Connecticut and Illinois for attempting to regulate the platforms, which critics say enable insider trading and function as unlicensed gambling sites.
“The CFTC will continue to safeguard its exclusive regulatory authority over these markets and defend market participants against overzealous state regulators,” CFTC Chairman Michael Selig said.
“This is not the first time states have tried to impose inconsistent and contrary obligations on market participants, but Congress specifically rejected such a fragmented patchwork of state regulations because it resulted in poorer consumer protection and increased risk of fraud and manipulation.”