$1.1M Traded On Maryland Elections On Kalshi, Polymarket
More than $1.1 million has been traded on Maryland elections on Kalshi and Polymarket, according to a Baltimore Sun analysis, two days before voters go to the polls on November 3, 2026. The total comes as the state's top election official argues that Maryland law bars wagering on election outcomes, a dispute that sits alongside the wider national surge in midterm election betting on both platforms.
The figure, reported by WBFF Fox Baltimore and the Baltimore Sun, uses publicly available data from Kalshi and Polymarket's international platform. It leaves out smaller platforms and Polymarket's separate US platform, which does not publish comparable volumes. The governor's race and the 1st Congressional District draw the most activity.
What Maryland Law Says
Maryland's Election Law section 16-902 says a person may not make a bet or wager on the outcome of an election held under the state's election code. The text, available on Justia, makes a violation a misdemeanour with a fine of $50 to $500 paid to the state. Any money deposited as an election bet is forfeited to the county where it was placed.
The State Board of Elections has said in a public notice that gambling on elections is illegal in Maryland. The notice adds that prediction markets operate in a limited, regulated capacity at federal level and describe themselves as forecasting rather than betting. It says participation may still conflict with state law.
The Request To The State Prosecutor
On July 23, State Elections Administrator Jared DeMarinis wrote to the Office of the State Prosecutor asking it to investigate whether prediction market contracts on elections breach the state ban.
Maryland Matters obtained the one-page letter, which asks the office to consider any action it deems appropriate, including seeking clarification of how the law applies. It does not ask prosecutors to pursue individual traders.
State Prosecutor Charlton T. Howard III declined to comment at the time, citing office policy on investigations. With Election Day now two days away, the office would not say whether it has taken any action, WBFF reports.
The Federal Counterpoint
The platforms argue that users are trading contracts rather than placing bets. The Commodity Futures Trading Commission, which regulates the US derivatives market, backs that position and has opposed state efforts to restrict prediction markets, calling the products swaps rather than wagers, Maryland Matters reports.
Those competing views are playing out in courts around the country. Maryland's licensed sports betting market is a separate, regulated product. Residents can find licensed operators on our Maryland sportsbooks page.
The next marker is the result of the election itself. After polls close, the volume figures will be final for this cycle, and any action by the State Prosecutor would be the first sign of how Maryland intends to apply its law to these contracts.
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