Arizona indicts prediction market Kalshi for running illegal gambling operation
Quick Insights
The Bottom Line
Arizona indicts prediction market Kalshi for operating as an illegal gambling business.
AI Summary
Arizona Attorney General Kris Mayes filed criminal charges against prediction market Kalshi, accusing it of operating an unlicensed gambling business and taking illegal wagers on elections. The charges violate Arizona state law, according to Mayes's statement Tuesday. This marks the first criminal indictment against Kalshi, though several other U.S. states have previously alleged the platform operates as unregulated sports betting.
Source Coverage Map
3 of 43 tracked sources covered this story
Following this story?
Get notified when new coverage appears
Other Sources Covering This Story
2 sourcesMultiple outlets have reported on this story. Compare perspectives from different sources.
This article is part of a story we're tracking:
Should this be getting more attention?
You Might Have Missed
Related stories from different sources and perspectives
FinanceRising concerns that prediction markets are bypassing state gambling laws
As prediction markets explode in popularity, there are concerns they may bypass state gambling laws. On Tuesday, Arizona's attorney general charged the prediction market Kalshi with operating an illegal gambling operation. A representative from Kalshi said it's not a gambling product, but an exchange overseen by strict Wall Street regulation. Jo Ling Kent reports.
FinanceArizona accuses Kalshi of operating illegal gambling business
Authorities in Arizona have filed criminal charges against the prediction market provider Kalshi, becoming the first state in the U.S. to do so and setting up a legal battle that would get to the core of growing questions about the company’s business. The 20-count criminal charges allege that Kalshi accepted bets from Arizona residents on…
Government TransparencyWith boom in prediction markets, some lawmakers worry about how to police themselves
House and Senate ethics committees give no financial disclosure guidance on event contracts or prediction markets — unlike stock, cryptocurrency and bond trades.
National Security'Gruesome' war bets fuel calls for crackdown on prediction markets
Predictions markets have hosted millions of dollars of bets related to the war in Iran.
PoliticsUS lawmakers Murphy, Casar push legislation to regulate prediction markets
The legislation aims to prevent bets made based on insider knowledge of wars, economic policy and controllable events.
AI & WarfareArmy launches drone marketplace commercial solutions opening
“This CSO will enable the Army to rapidly acquire and deliver innovative solutions to the Warfighter using commercial technology," officials wrote in a solicitation. The post Army launches drone marketplace commercial solutions opening appeared first on DefenseScoop .
Company admits it diverted private patient records to law firms
The nation’s largest health records company, Epic Systems, sued firms including GuardDog Telehealth, alleging they improperly accessed personal medical records.
Did this story change how you see things?
Stories like this only matter when people see them. Help us get verified journalism in front of more eyes.
The Verity Ledger curates verified investigative journalism from trusted sources only.
See our sourcesMost Read This Week
Race on to establish globally recognised 'AI-free' logo
Biggest wildfire in Nebraska history continues to burn out of control - abcnews.com
TikTok and Meta risked safety to win algorithm arms race, whistleblowers say
Bank of America reaches proposed, non-binding settlement in Jeffrey Epstein suit
White House registers new ‘alien’-related .gov domains as DOD tackles Trump’s disclosure directive
