Arizona Becomes First State to Bring 20 Criminal Counts Against Kalshi Over Alleged Illegal Gambling and Election Betting
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Arizona became the first U.S. state to file a 20-count criminal complaint against prediction market Kalshi, alleging it operated an unlicensed online gambling operation by accepting bets on elections, political outcomes, college sports and individual player performance. The prosecution has escalated a jurisdictional fight with the CFTC—whose chair Michael Selig called the criminal case inappropriate and asserted federal oversight—after Kalshi’s request for a temporary federal block was denied by U.S. District Judge Michael Liburdi, and comes amid related legal actions in at least nine other states with mixed rulings.
Financial Prediction Markets and Gambling Law
State–Federal Regulatory Conflicts
Prediction Markets and Gambling Law