Let W = {w(k)(t)}(k=0)(infinity), be the classical system of the Walsh func
tions, L-W the multiplicative semigroup of the functions represented by ser
ies of functions wk (t) with non-negative coefficients which sum equals 1.
We study the arithmetic of L-W. The analogues of the well-known Khinchin fa
ctorization theorems related to the arithmetic of the convolution semigroup
of probability measures on the real line are valid in L-W. The classes of
idempotent elements, of infinitely divisible elements, of elements without
indecomposable factors, and of elements without indecomposable and non-dege
nerate idempotent factors are completely described. We study also the class
of indecomposable elements. Our method is based on the following fact: L-W
is isomorphic to the semigroup of probability measures on the group of cha
racters of the Cantor-Walsh group. 2000 Mathematics subject classification:
primary 60B15, 43A25; secondary 42C10.