In its filing, the state alleges that the companies violated Arizona laws that prohibit operating an unlicensed wagering business and that ban betting on elections.
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Prediction market Kalshi fights Arizona criminal charges
“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,” Mayes said in the release. “No company gets to decide for itself which laws to follow.”
