Arkansas sues Kalshi, alleging it operates an illegal gambling platform

TechFlow reported on November 5 that, according to a statement from the Arkansas Attorney General's Office, Attorney General Tim Griffin has sued KalshiEX LLC and Kalshi Inc., operators of prediction market Kalshi, for allegedly offering an illegal gambling platform in the state in violation of the state's deceptive trade practices law.

Griffin said Kalshi has not obtained the license required to operate gambling in the state, opened its platform to consumers including individuals as young as 18, and encouraged them to bet real money on sports and entertainment events and profit from them. The state is seeking remedies including damages, fines, taxes, and injunctive relief.

Source: TechFlow