Kalshi Launches KBO Baseball Match Betting Contracts Amid Legal Concerns

Kalshi, a U.S. prediction market platform, has launched trading contracts for the outcome of the Kiwoom Heroes vs. KIA Tigers game scheduled for 6:30 p.m. on May 16th, with cumulative trading volume reaching $34,158 (approximately 47 million won) as of 2 p.m. on the same day. The platform also offers contracts for the SSG Landers vs. NC Dinos match.

According to Kalshi's market page, KIA Tigers have a 63% probability of winning against Kiwoom Heroes, while Kiwoom has a 37% chance. Contracts are structured so that users buy and sell based on the likelihood of a team's victory, with settlements made according to the final match result.

Kalshi also offers separate contracts for whether runs will be scored in the first inning of each game, with a 39% probability indicated for runs in the Kiwoom-KIA matchup.

South Korea's National Sports Promotion Act prohibits unauthorized betting on sports outcomes. The law states that providing financial rewards based on match results without authorization from the Seoul Olympic Memorial Sports Promotion Foundation or its licensed partners is illegal, with penalties including up to five years in prison or a fine of up to 50 billion won.

South Korea's Supreme Court has previously ruled that using foreign sports betting sites within South Korea constitutes illegal gambling under the National Sports Promotion Act, even if the site operates outside the country. Kalshi is a U.S.-regulated platform licensed by the Commodity Futures Trading Commission (CFTC) as a designated contract market.

However, legal experts warn that Korean users engaging in such betting could still face prosecution under domestic law. Kim Dan of Law Firm Robax stated that while Kalshi's contracts are legally permissible in the U.S., they may violate South Korea's gambling laws if used by local residents. The platform does not explicitly restrict South Korea as a service area, though it prohibits certain other countries including China and Singapore.

Regulatory attention remains focused on whether Korean authorities will take action against Kalshi following similar measures taken against platforms like Polymarket, which was blocked for offering betting on domestic issues such as Seoul's rainfall levels. As of now, no specific blocking order has been issued against Kalshi in South Korea.