Arizona Charges Kalshi with Illegal Gambling
Tucson News Today | 2 Min Now | The Daily News Now! · The Daily News Now!
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Show Notes
Arizona Attorney General Kris Mayes has filed criminal charges against prediction market Kalshi for allegedly running an illegal gambling operation. The state accuses the company of allowing users to bet on state and federal elections, as well as college and pro sports events. Kalshi faces multiple misdemeanor counts for these wagers, which occurred from mid-December last year to last Thursday. The company, which lets people trade contracts on real-world outcomes, has previously faced similar crackdowns in some states but has also won court battles in others. Just before the charges, Kalshi sued Arizona in federal court, arguing that federal rules override state laws on these markets. However, the state plans to push ahead with the case despite the companys lawsuit and similar battles in at least twenty other federal courts nationwide.
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