Washington state sued everything on Friday (March 27), claiming that the company’s prediction market is, under the state’s definition, a betting platform that enables illegal gambling.
the complaint He says Kalshi is violating the state Gambling law and Consumer Protection Lawthe Washington State Office of the Attorney General He said on Friday press release.
It seeks to stop alleged illegal activities, recover money lost by state residents, and assess civil penalties, according to the statement.
Washington State Attorney General Nick Brown Calcci allows people to bet on elections, Supreme Court cases, wars and “almost anything is possible in life,” he said in the statement.
“For Kalci, every event and every tragedy is nothing more than a potential way for Americans to risk their fortunes and for Kalci to get rich,” Brown said. “While they promote this bleak vision of the future, they are lining their pockets and patting themselves on the back for sneaking around Washington’s gambling laws. Nothing more.”
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Calci did not immediately respond to PYMNTS’ request for comment.
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In another separate case, the company faces… Criminal charges In Arizona.
Arizona Attorney General Chris Mayes It announced on March 17 that it had filed criminal charges alleging that the companies behind “Calce” violated Arizona laws prohibiting the operation of unlicensed betting businesses and which prohibit betting on elections.
Calci, reached by PYMNTS at the time, said in an emailed statement that Arizona’s accusations were baseless and that the company would fight them in court.
“These state court charges are seriously flawed. They are a game,” the company said. “Four days after Kalci filed suit in federal court, these charges were filed to circumvent the federal court and shorten the normal judicial process. They are trying to prevent federal courts from evaluating the case on the merits — whether Kalci is subject to exclusive federal jurisdiction.”
It was reported in February that the United States Commodity Futures Trading Commission (CFTC) establishes that the supervisory authority Prediction markets He lies with her. The regulator filed an amicus brief in federal court defending its right to enforce prediction markets rather than individual states.
In a third case, it was reported on March 20 that a Nevada judge temporarily banned Kalci from performing Event contracts For sports, elections and entertainment in Nevada. In that case, the company fights a case Nevada gaming console Confirms that prediction markets that facilitate unlicensed gambling are illegal in the state.
