Arizona charges Kalshi, alleging illegal gambling with election bets

The Guardian - World NewsEN 2 min read 100% complete by ReutersMarch 17, 2026 at 06:39 PM

AI Summary

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Arizona's Attorney General Kris Mayes filed criminal charges against Kalshi, a prediction markets platform, alleging the company operates an illegal gambling business within the state. The charges, filed in Maricopa County, accuse Kalshi of unlawfully allowing Arizona residents to bet on elections and sporting events, violating state law. Kalshi, based in New York, argues its platform is a financial exchange under the exclusive jurisdiction of the Commodity Futures Trading Commission, not subject to state gaming regulations. The company disputes the charges, claiming Arizona is attempting to regulate a nationwide financial exchange. The 20-count criminal information includes allegations of accepting bets on the 2028 presidential race and various Arizona state elections.

Key Entities & Roles

Key Player Opposition Context

Donald Trump 40% New York 50% Maricopa County 60% Commodity Futures Trading Commission 60% Kris Mayes ×280% Kalshi ×990% Arizona ×895%

Keywords

kalshi 100% illegal gambling 90% prediction markets 80% election bets 80% arizona 70% criminal charges 70% gaming regulators 60% state laws 50% events contracts 50% financial exchange 40%