Prosecutors in Arizona filed criminal charges on Monday against Kalshi, an online prediction market site. Scott Olson/Getty Images
Scott Olson/Getty Images
Arizona’s attorney general is accusing Kalshi of operating an illegal gambling business in the first-ever criminal charges filed against the wildly popular prediction market site, where people bet billions of dollars a week wagering on sports, elections and what politicians will say during public appearances.
State prosecutors allege that Kalshi, which is based in New York City, is running an unlicensed online gambling operation that lets residents bet on sports