Arkansas attorney general sues Kalshi, alleging illegal sports gambling
Arkansas Attorney General Tim Griffin filed suit against prediction market Kalshi on Wednesday, arguing its sports and entertainment contracts amount to unlawful gambling open to users aged 18 and up. The complaint seeks a finding that Kalshi breached the state's deceptive trade practices law, plus restitution. Utah brought criminal charges against Kalshi and its co-founders last week, and several other states have acted. Kalshi maintains its contracts are federally regulated derivatives, and the CFTC has sued Utah over its stance.