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- The state of Washington has become the latest to sue a prediction markets provider, after alleging Friday that Kalshi had violated state gambling laws through its products.
- According to the complaint, Washington has a tightly-regulated gambling market, including a ban on online gambling, but Kalshi's products bypass these regulations.
- "Kalshi’s website and app show consumers a range of events that they can bet on and the odds for those various events, which dictate how much the bettor will be paid out if the event occurs," a press release from the state said.
- "This is exactly how sportsbooks and other gambling operations function.
- Kalshi advertises that they allow consumers to 'bet on anything' by simply calling their service a 'prediction market' rather than 'gambling.'" The lawsuit said Kalshi's advertisements referred to "legal betting," and alleged the company's activities met state definitions of "gambling," "professional gambling," "bookmaking" and other key state provisions.
- It also included a provision alleging that Kalshi's products promoted gambling addiction and targeted college students in particular.
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Nguon tham khao: https://www.coindesk.com/policy/2026/03/28/washington-sues-kalshi-as-states-ramp-up-legal-pressure-against-prediction-markets