https://azmirror.com/briefs/in-unprecedented-move-arizona-files-criminal-charges-against-prediction-market-company-kalshi/
Arizona Attorney General Kris Mayes filed criminal charges against the online prediction market company Kalshi, accusing it of operating an illegal gambling business in the state and flagrantly violating a state law barring wagering on elections.
“Kalshi may brand itself as a ‘prediction market,’ but what it’s actually doing is running an illegal gambling operation and taking bets on Arizona elections, both of which violate Arizona law,” Mayes said in a press release announcing the charges. “No company gets to decide for itself which laws to follow.”
Mayes’ case marks the first time a state has pursued criminal charges against the company. The 20-count criminal information filed in Maricopa County Superior Court claims Kalshi broke Arizona law prohibiting the operation of an unlicensed wagering business and similarly broke the law by allowing bets on Arizona elections. All of the alleged crimes are misdemeanors, and all are being leveled against the company, not its executives.
