COINDESK · 2026-11-05 05:29 UTC

The pile of lawsuits against Kalshi just grew by one

Arkansas Attorney General Tim Griffin sued Kalshi, a federally regulated prediction market, accusing it of running an illegal gambling operation, joining lawsuits from Utah, Arizona, Connecticut, Massachusetts, Michigan, and Nevada. Kalshi allows users as young as 18 to wager real money on sports and entertainment events; the company argues its contracts are financial derivatives regulated by the CFTC, not gambling. Utah filed 14 criminal charges against Kalshi and co-founders Tarek Mansour and Luana Lopes Lara last week; the CFTC has sued Utah arguing only Washington can regulate these…

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