Menu

📰
0

Kalshi moves Washington lawsuit to federal court amid regulatory dispute

ReadWrite·@SuswatiBasu·2 months ago
#xgnZYq
Reading 0:00
15s threshold

Washington’s lawsuit against prediction market platform Kalshi changed direction the same day it was filed, after the company moved the case from state court into federal court. This would change where the case will be heard and centers the dispute on federal law. The complaint, filed in King County Superior Court by Attorney General Nick Brown and reviewed by ReadWrite, alleges that Kalshi operates an illegal online gambling platform. State lawyers say the company offers “a continuous and captivating stream of opportunities to bet money online on thousands of topics,” including sports, elections, public statements, and health-related metrics. Washington is suing Kalshi for running an illegal betting operation. Kalshi tries to deceive governments and consumers by calling itself a ‘prediction market.’ If you spend a minute on their website, you’ll clock that this is a gambling site.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.

Read More