Arkansas sues Kalshi, alleging it operates an illegal platform

BlockBeats news, November 5th, according to a statement from the Arkansas Attorney General's Office, State Attorney General Tim Griffin has sued KalshiEX LLC and Kalshi Inc., the operators of the prediction market Kalshi, accusing them of offering an illegal gambling platform within the state in violation of the state's deceptive trade practices law.

Griffin stated that Kalshi has not obtained the required state gambling operation license, opened its platform to consumers including those as young as 18, and encouraged them to place real-money bets on sports and entertainment events and profit from it. The state is seeking remedies including damages, fines, taxes, and injunctions.