Ann Jacobs, chair of the Wisconsin Elections Commission, has cautioned voters that wagering on elections in which they vote is against state law. Her remarks follow the increasing popularity of prediction market sites like Kalshi and Polymarket.
Wisconsin Elections Commission Chair Ann Jacobs has warned voters that it is against state law to bet on an election in Wisconsin if they are casting a ballot in that race. Jacobs' comments were made on X. Wisconsin law includes a provision that says nobody is allowed to vote in any election in which they have made a bet depending on the result of the election. Tens of thousands of dollars have been wagered on the result, turnout, and margin of victory of next week’s state Supreme Court election on Kalshi. Even more money has been wagered on the state’s upcoming race for governor, including $85,000 on the Democratic primary race. The ethics of participating in prediction markets have come under scrutiny as their popularity has grown, particularly the opportunity for placing bets that are akin to insider trading. More than $500 million in bets were placed on the prospect of the U.S. going to war with Iran shortly before major announcements about U.S. military actions in the country, NBC News reported. The law against betting on elections has been on the books in some form since 1849. Other states, including Arizona and Texas, also have laws against wagering on elections. Jacobs told Wisconsin Public Radio that the state isn’t going to go looking for offenders of the election betting law, however if someone brags online about a big win, that could open them up to scrutiny and the potential cancellation of their vote. Jacobs told the Wisconsin Examiner a voter’s ballot could be voided because of betting through the state’s existing ballot challenge processes, which allow anyone to object to the counting of an absentee ballot. She compared it to challenges that are received for people who post selfies with their ballots.
Key takeaways:
- Betting on elections in Wisconsin is illegal for voters.
- The law has been in place since 1849.
- Prediction markets are gaining popularity, raising ethical concerns.
- Authorities are unlikely to actively seek out offenders but may act on public boasts of illegal betting.