Overview
- Arizona Attorney General Kris Mayes charged Kalshi with 20 misdemeanors, alleging unlicensed wagering and banned bets on elections by Arizona users.
- The filing lists 16 betting and wagering counts and four election-wagering counts tied to the 2028 presidential race and 2026 Arizona contests, plus sports and policy-related contracts.
- All counts are misdemeanors carrying fines of $10,000 to $20,000 per violation, exposing the company to a potential total penalty of about $400,000.
- Kalshi called the case meritless, said its event contracts fall under the Commodity Futures Trading Commission’s jurisdiction, and noted it sued Arizona in federal court on March 12.
- U.S. District Judge Michael Liburdi denied Kalshi’s bid for immediate relief and directed the company to justify keeping its federal case in light of the state charges, as the CFTC’s chair criticized the criminal route and courts in other states issued mixed rulings.