Arizona became the first state to file criminal charges against Kalshi on Tuesday, accusing the prediction market company of operating an illegal gambling business within its borders, a significant escalation in the fight to regulate the popular platform. The 20-count charging document accuses Kalshi of accepting bets on political outcomes, college sporting competitions and individual … Read more
Arizona’s attorney general on Tuesday filed criminal charges against Kalshi, alleging the prediction market platform is engaging in illegal gambling practices and election wagering. The complaint, filed in Maricopa County, Arizona, includes 20 separate counts against Kalshi, claiming the company accepted bets from Arizona residents in violation of state law. The bets in question focused … Read more
The lawsuit filed includes 20 counts including illegal gambling and betting on Arizona elections. Arizona law prohibits wagering on elections, as well as operating a gambling business without a license. Source link
SALT LAKE CITY — For more than a century, Utah has kept gambling almost entirely out of the state. There are no casinos, no lotteries and no racetracks that allow bets, a prohibition rooted in the conservative ideals of The Church of Jesus Christ of Latter-day Saints, which views gambling as a vice that leads … Read more
Kalshi on Wednesday said it fined and suspended an employee of the popular YouTuber MrBeast for insider trading, marking one of the first disciplinary actions within the fast-growing prediction market industry. The case involved bets on certain events occurring in MrBeast’s videos, which were flagged by Kalshi’s surveillance team for their “near-perfect trading success on … Read more