The commission is flouting the Commodity Futures Trading Commission's "established framework" for prediction markets, Polymarket Deputy Chief Legal Officer Olivia Chalos wrote in a statement the company gave Just the News. Leveling the playing field with 'financial elites'Wisconsin has already gone after Kalshi, Polymarket and other prediction markets directly, alleging they operate illegal commercial gambling. State Sen. Michael Hastings, who offered similar legislation, also emphasized sports betting dominates prediction markets. Four months before the commission formally warned Wisconsin voters they could face prosecution for election wagering on prediction markets, then-Chair Ann Jacobs unilaterally warned voters their "ballot can be challenged & thrown out" for betting on state elections. The Competitive Enterprise Institute portrayed prediction markets as leveling the playing field between "financial elites" and "ordinary Americans," giving the latter the same ability to "hedge political and economic risks."