Wu Blockchain (@WuBlockchain): Kalshi Faces Multi-State Lawsuits as Prediction Markets Labeled ‘Disguised Gambling’
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Kalshi Faces Multi-State Lawsuits as Prediction Markets Labeled ‘Disguised Gambling’ Washington state has sued prediction market platform Kalshi, alleging it offers gambling products under the guise of “prediction markets” in violation of state law. Earlier, Nevada secured a temporary restraining order requiring Kalshi to halt sports, election, and entertainment contracts, alongside similar restrictions on Coinbase. Kalshi maintains its products are federally regulated derivatives, and the dispute could ultimately reach the U.S. Supreme Court.