Maryland Said No. Traders Traded Its Elections Anyway
Maryland law is not ambiguous. Election Law Section 16-902 says a person may not bet on the outcome of an election: a misdemeanor, a fine of $50 to $500, and the stake forfeited to the county. In March the State Board of Elections warned that gambling on elections is illegal in Maryland.
The markets traded anyway. As of about 9:15 AM ET on Sunday, Polymarket's 20 Maryland markets had recorded about $599,500 in volume, covering the governor's race, all eight House districts, turnout, margins and a redistricting measure. The busiest was the 1st District at about $98,800, with Rep. Andy Harris at about 86.5% against about 12% for Dan Schwartz. The governor's market carried about $30,500, with Gov. Wes Moore at about 99%.
Kalshi tells the same story in contracts: about 400,500 traded across 27 Maryland events. The governor market alone traded about 303,000 — about 199,000 on Republican nominee Dan Cox and about 104,000 on Moore, Cox last at 1 cent and Moore at 99 cents, with about 70,900 Cox contracts changing hands in the prior 24 hours. A one-cent longshot piles up contracts without piling up cash.
The state is escalating. Elections Administrator Jared DeMarinis asked the state prosecutor in July to investigate whether the contracts violate the ban, and in September the board barred election officials, judges and contractors from holding them. Kalshi disputes that state law applies, saying a regulator and a Washington court have determined these markets are legal under the federal system.
Two days before the vote, Maryland is the national fight in miniature: the state is also litigating Kalshi's sports contracts, while CNN estimates 2026 election trading on Kalshi and Polymarket at more than $750 million. The ban is on the books. So are the prices.
Sources: RG, Capital Gazette, Maryland Matters
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