Arkansas Sues Kalshi, Alleging Deceptive Trading Practices and Unjust Enrichment

Arkansas Attorney General Tim Griffin introduced a lawsuit that alleges Kalshi knowingly lied to customers in Arkansas, presenting its platform as legal and safe while violating the state’s Deceptive Trade Practices Act by offering unlicensed gambling products and making its services available to underage users. Kalshi, one of the largest prediction market platforms in the U.S. with billions in volumes traded, is being sued by Arkansas for its involvement in illegal gambling practices. On Wednesday, Arkansas Attorney General Tim Griffin filed a lawsuit against KalshiEX LLC and Kalshi Inc., the owners and operators of the prediction market platform Kalshi, alleging they violated the Arkansas Deceptive Trade Practices Act by offering event products without a license to operate in the state.

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