Arizona AG Charges Kalshi, Prediction Markets Face Legal Battles
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Show Notes
Arizonas Attorney General Kris Mayes charges Kalshi with illegal gambling, accusing them of operating without a state license and offering bets on elections. Kalshi executives retaliate, claiming the move is a court process evasion. CFTC Chair Michael Selig weighs in, stating this is a jurisdiction fight, not a criminal matter. Court battles rage on, with Ohio rejecting Kalshis request for a preliminary block and Tennessee halting state enforcement. Prediction markets gain traction, with Congress considering a possible ban, leaving the question of CFTC control versus state gambling rules unanswered.
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