News
Arkansas Sues Prediction Market Kalshi Over Illegal Gambling Claims
Arkansas Attorney General Tim Griffin filed a lawsuit against KalshiEX LLC and Kalshi Inc., alleging the platform offers illegal, unregulated gambling to state residents. The suit claims violations of the Arkansas Deceptive Trade Practices Act and seeks restitution, penalties, taxes, and an injunction. Griffin said wagering on events like the Razorbacks' games constitutes gambling prohibited by state law. Kalshi, regulated by the CFTC, argues its contracts fall under federal jurisdiction. Arkansas joins over a dozen states challenging prediction markets.