Arkansas Sues Kalshi, Calling Its Sports Contracts Unlicensed Gambling Open to 18-Year-Olds
By Damian Chmiel
AI summary of the source article
Arkansas has sued prediction market Kalshi, accusing it of running an unlicensed sports-betting business that accepted wagers from 18-year-olds. The lawsuit seeks restitution, civil penalties, unpaid taxes, and an injunction, making Arkansas the seventh state to restrict or sue Kalshi.
Key facts
- Arkansas filed a 57-page complaint against Kalshi seeking restitution, civil penalties, and unpaid gambling taxes.
- Kalshi held 82% of a record $72.3 billion in combined prediction-market volume in September.
- The CFTC regulates Kalshi as a designated contract market and is actively fighting state legal actions over regulatory jurisdiction.
Source excerpt · Finance Magnates
Arkansas sued Kalshi yesterday (Wednesday), accusing the prediction market of running an unlicensed sports-betting business that took wagers from residents as young as 18. Attorney General Tim Griffin is seeking restitution, civil penalties, unpaid taxes and an injunction. The case makes Arkansas the seventh state to charge, sue or restrict Kalshi, according to a CoinDesk tally. Kalshi draws most…