State government v. Prediction markets

This week in prediction market drama highlights Arizona Attorney General filing criminal charges against a prediction market.

The Attorney General said, “Kalshi may brand itself as a ‘prediction market,’ but what it’s actually doing is running an illegal gambling operation and taking bets on Arizona elections, both of which violate Arizona law. No company gets to decide for itself which laws to follow.”

AZ Mirror | In unprecedented move, Arizona files criminal charges against prediction market company Kalshi