Fox Corporation said April 7 that it will integrate Kalshi data across its various platforms, a move that could exacerbate gambling addiction and financial harm among the company’s audience.
The deal involves Fox News Channel, Fox Business Network, Fox Weather, and the FOX One streaming platform. Reports of a potential deal had surfaced about a month prior.
Kalshi is a controversial prediction market that facilitates stock-market-style betting on various real-world events, including sports. It generates revenue by charging fees, with most users losing money over the long run.
The Federal Reserve Bank of New York recently found that online sports betting is causing significant financial harm at the population level. Surveys show half of online bettors chase losses.
Online gambling platforms are highly addictive, especially to youth and vulnerable adults, leading public health advocates to seek regulation similar to that of tobacco products.
Kalshi-Fox ‘Sponsored Integration’
The Fox-Kalshi arrangement is being described as a “sponsored integration.” They claim that viewers will be more informed and engaged thanks to the betting odds.
Kalshi, based out of New York City, will work with Fox production teams on real-time graphics and data visualization.
According to reports, Kalshi’s election betting market data will not be used in Fox News’ political coverage. Relatedly, it appears that Fox will not promote “mention market” gambling (e.g., betting on what a politician says during a speech) via Kalshi.
The timing of the partnership is notable. It came a day after Kalshi scored an early significant legal win in the U.S. Third Circuit. At issue are its sports betting markets, which New Jersey says violate state gambling law. The legality of prediction-market-style sports gambling could eventually reach the Supreme Court.
Legal challenges continue for the company. Kalshi has been charged criminally in Arizona and faces legal battles in numerous other states. Its home state of New York says it’s an illegal gambling product.
Growing List of Kalshi Partners
In addition to its work with Fox, Kalshi also has a data partnership with CNN. Meanwhile, CNBC has an affiliate marketing relationship with the company.
Donald Trump Jr. is an advisor to Kalshi. It’s unclear if he has a financial investment.
Further underscoring the interconnectedness of the gambling and media sectors, Fox has a financial stake in Flutter Entertainment, the parent company of FanDuel. FanDuel also has a prediction market, but Kalshi dominates the space.
Kalshi announced that it facilitated $2 billion in trading volume on March Madness 2026. The company controversially used NCAA trademarks.
Growing Antipathy for Sports Betting
The Fox-Kalshi deal also comes amid growing public backlash against online sports betting. For instance, Fox News host Laura Ingraham has often criticized the industry for preying on people. Other prominent conservative figures, such as Tucker Carlson and Dave Ramsey, have also slammed the industry.
At the same time, more Democrats are joining the prediction market sector. Resolution Public Affairs LLC, a firm with ties to Democratic Sen. Chuck Schumer, recently submitted a lobbying registration to note the start of a relationship with Kalshi, according to Sportico.
Prediction markets like Kalshi use the same corporate responsibility messaging as traditional online sportsbooks. Public health professionals consider “responsible gambling” messages harmful, putting the blame on the user of an addictive product. Gambling addiction carries significant stigma, and responsible gambling can deepen the stigma.
As of April 2026, at least 10 bills have been introduced in Congress targeting prediction markets. Efforts to curb these platforms have bipartisan support.