Kalshi Slapped With First-Ever Criminal Charges After Suing Arizona To Block Enforcement

Kalshi sued the state of Arizona recently in U.S. District Court, naming Attorney General Kris Mayes and Arizona Department of Gaming officials as defendants. The prediction market exchange argues that the Commodity Exchange Act gives the CFTC exclusive jurisdiction over its event contracts, and that state enforcement would violate federal preemption.Mayes wasn’t deterred. Just days later, she filed 20 criminal counts.What HappenedMayes’ office appears to have placed a series of small bets on Kalshi from Ar ...