Arkansas Sues Kalshi Over Gambling Enforcement

Arkansas sues Kalshi

Arkansas Attorney General Tim Griffin sued Kalshi Wednesday (Nov. 4) for illegal gambling to residents under state rules.

“arkansas law is concerned with substance not semantics”

Federal courts uphold state laws

Federal appeals courts left Connecticut, Nevada and New York free to enforce gambling laws against sports event contracts.

Kalshi admits customers under 21

Kalshi allows customers as young as 18 while Arkansas requires users to be at least 21 to open electronic wagering accounts.

Griffin seeks restitution

Griffin alleged violations of Arkansas’ Deceptive Trade Practices Act and seeks restitution, penalties, unpaid taxes and an injunction.

Kalshi calls allegations baseless

Kalshi called the allegations baseless and said Congress created a single federal regulator for nationwide rules.

2nd Circuit denies injunction

The 2nd Circuit denied requests from Kalshi and Coinbase to block state enforcement while appeals proceed.

9th Circuit declines rehearing

The 9th Circuit declined to rehear its August decision allowing Nevada to enforce gambling laws against Kalshi’s sports contracts.