The state of Arizona has filed misdemeanor charges against the online company Kalshi, alleging it has operated an illegal gambling business.
The new legal filing in Maricopa County Superior Court lists 16 counts of betting and wagering and four counts of election wagering.
In a press release, Arizona Attorney General Kris Mayes said that while the company brands itself as a prediction market, it is breaking the state’s gambling and election wagering laws.
The new charges come days after Kalshi filed a lawsuit against the Arizona Department of Gaming in federal court, saying states cannot regulate its predictions market.
A spokesperson for Mayes says an arraignment hearing is the next step.
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