Gate News update. On March 29, Washington State Attorney General Nick Brown filed a civil lawsuit against prediction market platform Kalshi, alleging that by offering betting services for events such as sports wagers, elections, and wars, it violated the state’s gambling and consumer protection laws. The lawsuit has been filed in the King County Superior Court, seeking to bar Kalshi from operating locally, recover residents’ lost funds, and impose civil penalties. The court filings show that Kalshi’s ads had previously implied that users could bypass local laws to place NFL bets, indicating that it was “aware of the violation.” Kalshi responded that it is a federally regulated compliance trading platform, denied offering war-related markets, and said it is confident it will prevail in the legal process. It is understood that this is another regulatory action the company has faced recently; it is currently involved in more than 20 civil lawsuits. Previously, prosecutors in Arizona had filed criminal charges against it, which was considered the first criminal case involving a prediction market.
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