Judge Rejects Kalshi's Bid to Block Arizona Wagering Prosecution
A federal judge in Phoenix has denied Kalshi's request to halt criminal proceedings brought by Arizona prosecutors, who allege the prediction market operator is running an illegal betting platform. U.S. District Judge Michael Liburdi also refused to rule on whether federal law supersedes state gambling statutes, deeming it premature. The Arizona Attorney General charged Kalshi with 20 misdemeanor counts for accepting wagers on political outcomes and sports without a license. While Kalshi argues it operates as a financial marketplace subject only to federal regulation, the state maintains its actions are necessary to enforce local gambling laws. This case represents a significant escalation in the legal battle over prediction markets, occurring alongside similar lawsuits filed by other states and the Trump administration's recent support for such platforms.
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Judge Rejects Kalshi's Bid to Block Arizona Wagering Prosecution
A federal judge in Phoenix has denied Kalshi's request to halt criminal proceedings brought by Arizona prosecutors, who allege the prediction market operator is running an illegal betting platform. U.S. District Judge Michael Liburdi also refused to rule on whether federal law supersedes state gambling statutes, deeming it premature. The Arizona Attorney General charged Kalshi with 20 misdemeanor counts for accepting wagers on political outcomes and sports without a license. While Kalshi argues it operates as a financial marketplace subject only to federal regulation, the state maintains its actions are necessary to enforce local gambling laws. This case represents a significant escalation in the legal battle over prediction markets, occurring alongside similar lawsuits filed by other states and the Trump administration's recent support for such platforms.
AP News