Jonathan Ambarian

HELENA (KPAX) — An increasingly popular online prediction market has filed suit against Montana Attorney General Austin Knudsen, seeking to stop his office from enforcing state gambling laws against them.

The company Kalshi has filed a case in federal court, arguing that the state has no authority to regulate their operations.

Kalshi offers “event contracts,” where users buy a contract based on whether a predicted future event will or will not happen by a set time. If it does happen, users who bought “yes” contracts are paid out, and if it doesn’t, those who bought “no” contracts are paid out. Before the final resolution, the value of the contracts can vary based on the market, and users can sell them early based on that value.

Kalshi’s contracts cover everything from business and economic indicators to election results and other news events to sports. As the company has received more attention, it has also faced scrutiny from some states that consider its model too close to gambling. Kalshi has maintained it’s not the same because users’ contracts are financial “swaps” with other traders, rather than a bet against the market itself.

“Because traders do not take a position against the exchange itself, traders’ ability to hedge risk requires counterparties willing to assume risk in the hope of seeing a return,” the company’s attorneys said in their complaint.

Last year, an attorney representing the Montana Department of Justice’s Gambling Control Division sent Kalshi a cease-and-desist letter, saying that they had found probable cause that the company’s operations were gambling, “because participants risk money or other things of value for a gain that is contingent in whole or in part upon lot, chance, or the operation of a gambling enterprise.” They asked the company to stop offering event contracts in the state, saying they were seeking “voluntary compliance.”

Kalshi argues their operations are regulated by the federal Commodity Futures Trading Commission, like other financial markets, and that federal law overrides any attempts by states to implement additional restrictions.

“One of Congress’s avowed goals in creating the CFTC was to avoid the ‘chaos’ that would result from subjecting exchanges to a patchwork of 50 different—and potentially conflicting—state law,” the company’s attorneys wrote in their federal complaint.

In the complaint, attorneys said Kalshi believed it had reached an agreement with the state to delay any enforcement while a federal appeals court hears arguments in a similar case centered on Kalshi’s operations in Nevada. However, they said the state sent another cease-and-desist letter last week, so they filed this action seeking to prevent Montana regulators from taking any enforcement action.

In the Nevada case, a judge barred Kalshi from offering contracts on sports. However, an appeals court ruled in a separate case last week that New Jersey did not have the authority to regulate Kalshi.

In addition, the CFTC has announced lawsuits of its own against states that sought to regulate prediction markets.

MTN reached out to Kalshi’s media contact, but as of Tuesday evening had not received a response.

The Montana Lottery offers multiple draw games for those aiming to win big.

Here’s a look at April 14, 2026, results for each game:

Winning Mega Millions numbers from April 14 drawing

17-21-24-57-69, Mega Ball: 12

Check Mega Millions payouts and previous drawings here.

Winning Big Sky Bonus numbers from April 14 drawing

02-04-30-31, Bonus: 16

Check Big Sky Bonus payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

When are the Montana Lottery drawings held?

• Powerball: 8:59 p.m. MT on Monday, Wednesday, and Saturday.
• Mega Millions: 9 p.m. MT on Tuesday and Friday.
• Lucky For Life: 8:38 p.m. MT daily.
• Lotto America: 9 p.m. MT on Monday, Wednesday and Saturday.
• Big Sky Bonus: 7:30 p.m. MT daily.
• Powerball Double Play: 8:59 p.m. MT on Monday, Wednesday, and Saturday.
• Montana Cash: 8 p.m. MT on Wednesday and Saturday.
• Millionaire for Life: 9:15 p.m. MT daily.

Missed a draw? Peek at the past week’s winning numbers.

This results page was generated automatically using information from TinBu and a template written and reviewed by a Great Falls Tribune editor. You can send feedback using this form.

There’s something special about a record or CD that feels nostalgic, and if you need another reason to support locally owned record stores in Montana, this is it.

This Saturday, April 18, is Record Store Day 2026, and independent record stores in Montana and across the country are gearing up for one of the biggest days of the year. It’s a one-day event where customers can find exclusive in-store only releases.

For record collectors, it’s a chance to find special releases that are in limited supply. I’m planning to get in line in hopes of scoring a copy of the Billy Strings NPR Tiny Desk concert on vinyl.

That’s just one of over 300 limited-edition releases that will be available on Record Store Day. You can find a complete list of 2026 releases on the Record Store Day website.

Record stores in Montana aren’t just a place to buy music. They’re a part of the fabric of the communities they serve. Cactus Records in Bozeman is considered a local landmark and the go-to spot for music lovers in town.

Sure, it’s much easier to stream music digitally, but it isn’t the same as holding a physical copy in your hands.

Record Store Day is about showing up and supporting local. Keeping these independent shops alive and thriving in a world that’s increasingly digital. Every purchase you make this Saturday goes directly back into those stores, and helps make sure they’re still here the next time you’re looking for something new.

If you plan on heading to a local record store on Saturday, don’t be surprised if you see people getting in line early. It’s a big day for vinyl lovers and music fans in Montana. I hope you find what you’re looking for.