Kalshi Seeks Repeal of 1958 Law Covering Onions
The New York Times reported that Kalshi wants to repeal a 1958 law that puts onions and box office receipts off-limits for prediction markets.
Kalshi wants to repeal a 1958 law about onions, according to a report by Michael Levenson in The New York Times, published October 30, 2026. The report's headline states the aim directly, and the summary identifies the law as the subject of the company's push.
The New York Times reported that the 1958 law was enacted after a scheme to rig onion prices in the 1950s. The summary characterizes that scheme in strong terms but offers no further detail about how it operated, who carried it out, or what followed.
According to The New York Times, the law places onions, as well as box office receipts, off-limits for prediction markets. The summary sets these two categories side by side and does not explain how they came to be covered by the same law.
The headline and summary link Kalshi's push for repeal to the 1958 law, but neither explains the company's reasoning in detail. The summary does not include statements from Kalshi, regulators, or other parties, and it does not say what steps, if any, the company has taken toward repeal.
The New York Times credits Michael Levenson as the author of the report, which was published October 30, 2026. Because this account rests on a headline and a summary, its details are limited to those two items. Further particulars about the scheme, the company's arguments, and any response are not contained in them.
Sources: The New York Times: Why Kalshi Wants to Repeal a 1958 Law About Onions.