Kalshi, the first prediction market to receive CFTC approval, is now offering event contracts tied to climate outcomes. The Center for Economic and Policy Research (CEPR) published a critical analysis framing the product as turning climate change into a betting game. Kalshi launched in 2020 after receiving approval to operate from the Commodity Futures Trading Commission (CFTC).

Climate-linked event contracts represent a new contract category for Kalshi, but the CEPR critique signals potential reputational and regulatory pushback as platforms expand into politically sensitive topics.