Kalshi Prediction Market Platform Sued in Washington State

BlockBeats News, March 29th, according to Greekwire, Washington State Attorney General Nick Brown has filed a civil lawsuit against the prediction market platform Kalshi, accusing it of violating state law by offering entertainment services for sports event predictions, elections, and wars. The lawsuit has been filed in King County Superior Court, seeking to enjoin Kalshi from operating locally, recover resident losses, and impose civil fines. Kalshi's ads had suggested that users could bypass local laws to participate in NFL event predictions, demonstrating its "knowing violation."

In response, Kalshi stated that it is a federally regulated compliant trading platform, denied offering markets for war-related events, and expressed confidence in winning the legal battle. This is another regulatory action that Kalshi has faced recently, with over 20 civil lawsuits already involved. Earlier, the Arizona prosecutor had brought criminal charges against it, marking the first criminal case against a prediction market.