Washington sues Kalshi prediction market over ‘illegal gambling’
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Washington state is suing Kalshi, a prediction market platform, alleging it facilitates illegal gambling on events like elections and sports.Summary
Washington Attorney General Nick Brown announced a lawsuit against Kalshi, a prediction market platform, accusing it of operating “illegal gambling” activities within the state. The lawsuit, filed in King County Superior Court, argues that Kalshi allows users to bet on events such as elections, sports, and even potential wars, violating state law. Brown emphasized the addictive nature of online gambling and its potential to harm vulnerable populations. Kalshi disputes these claims, asserting it is a regulated exchange subject to federal jurisdiction, functioning more like a stock market than a traditional casino. The Attorney General’s office points to Kalshi’s own advertising as evidence of attempts to circumvent state laws, and notes similar legal challenges in other states like Arizona. The suit seeks to enforce the Consumer Protection Act and the Washington state Gambling Act, as well as recover losses for Washington users.
(Source：Theolympian)