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ARTICLE · 09 JULY 2026

Calling Your Bluff

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In the USA, Kalshi Inc., which describes itself as a “regulated exchange dedicated to trading on the outcome of future events”, previously applied for trade marks covering “Bookmaking services”...

South AfricaIntellectual Property
Kim Rampersadh
Kim Rampersadh
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With the prolific rise of online gambling, the trade mark and regulatory landscape is also an area of growing interest worldwide, including in South Africa.

In the USA, Kalshi Inc., which describes itself as a “regulated exchange dedicated to trading on the outcome of future events”, previously applied for trade marks covering “Bookmaking services” and “organizing, arranging, conducting sports betting and gambling tournaments, competitions and contests”. This was seen as being at odds with representations that it is not offering gambling services and is rather a prediction market operator that offers a financial product.

There is debate about whether its betting exchanges differ markedly from traditional bookmaking and therefore how these should be regulated. The latter is strictly regulated and even prohibited in some states of the USA.

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