General Tech
Kalshi court losses pile up as judges refuse to block state gambling laws
Kalshi, a prediction market, is facing multiple lawsuits and court losses as state attorneys general argue that its platform offers gambling and should be regulated as such. Kalshi claims its products are not gambling, but the states disagree, citing laws and regulations that prohibit gambling on unregulated platforms. Kalshi is facing lawsuits in Arkansas, Utah, and separate cases in Connecticut and Nevada, with the company arguing that its platform should be regulated by the CFTC instead of state gambling laws. The company's founder, Donald Trump Jr.'s role as an advisor, and the states' concerns about Kalshi's lack of compliance with state laws and taxes are also mentioned in the article.