Arizona Files Criminal Charges Against Kalshi Prediction Market Alleging an “Illegal Gambling Operation”
Kalshi calls the charges "gamesmanship" and "meritless."
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Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment And Kalshi was having such a good week . On Tuesday, Arizona Attorney General Kris Mayes filed criminal charges against KalshiEx LLC and Kalshi Trading LLC, the companies behind the Kalshi prediction market platform, for “operating an illegal gambling business in Arizona without a license,” and “for election wagering.” All told, the filing carries 20 charges. “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. “No company gets to decide for itself which laws to follow.” Related Stories Movies Polymarket and Kalshi Got the Oscars About 80 Percent Right Movies More Than $116 Million Has Already Been Bet on the Oscars -- and It's Only Friday Afternoon Mayes alleges Kalshi “accepted bets from Arizona residents on a wide range of events in violation of Arizona law,” like professional and college sports — including prop bets — and whether the SAVE Act would become law. SAVE, or the Safeguard American Voter Eligibility Act, is a proposed federal law that would amend the National Voter Registration Act of 1993 to require “documentary proof of United States citizenship” to register to vote. All told, the filing carries four counts of election wagering, including bets on the 2028 presidential race, the 2026 Arizona gubernatorial race, the 2026 Arizona Republican gubernatorial primary and the 2026 Arizona Secretary of State race. Arizona law prohibits operating an unlicensed wagering business and separately bans betting on elections outright. The specified bets on each of the 20 counts ranged from $1-$20. “These state-court charges are seriously flawed. It’s gamesmanship,” a Kalshi spokesperson said...
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