Kalshi CEO’s midterm victory lap runs into a third state crackdown in one week

Kalshi has been sued again, as Attorney General of Arkansas Tim Griffin alleged on Wednesday that the platform, by offering illegal gambling to state residents, is operating in violation of the state’s Deceptive Trade Practices Act. The lawsuit played spoiler as Kalshi’s CEO, Tarek Mansour, paraded the platform’s election markets’ success rate in forecasting the winners of the midterm elections in the United States. Kalshi is the world’s largest prediction market by volume . Arkansas AG goes after Kalshi Arkansas Attorney General Tim Griffin sued KalshiEX LLC and Kalshi Inc . in an Independence County complaint, telling reporters that the state is seeking “restitution, penalties, taxes, and injunctive relief from the platform he described as a “pocket-sized bookie.” The platform tripped Griffin’s alarms because it avoids obtaining the licenses and…

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