Wu Blockchain (@WuBlockchain): According to Bloomberg, Kalshi Inc. has been sued in a proposed class action in New York alleging that it operated unlicensed sports betting and misle…
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According to Bloomberg, Kalshi Inc. has been sued in a proposed class action in New York alleging that it operated unlicensed sports betting and misled users about its market-making practices, including allowing its affiliate Kalshi Trading to set odds unfavorable to customers. The complaint says Kalshi promoted “legal sports betting” without holding any state gaming licenses. Co-founder Luana Lopes Lara denied the allegations, saying Kalshi’s market-making operates like other regulated financial exchanges. https://t.co/MKciWeBP8D