- Massachusetts AG Andrea Joy Campbell has sued KalshiEX LLC (Kalshi), an online prediction market, for allegedly violating state gambling laws.
- The complaint accuses Kalshi of unlawfully offering sports wagering to Massachusetts residents without obtaining the required state licenses. While Kalshi markets its offerings as “event contracts” traded on a “prediction market,” the AG’s office argues that the company’s products function like traditional sports betting platforms and are, therefore, subject to the same licensing requirements.
- According to the lawsuit, Kalshi’s unlicensed operations expose residents to a range of harms, including the public health risks associated with compulsive gambling and significant financial losses.
- The lawsuit seeks injunctive relief, damages, civil penalties, and attorneys’ fees and costs, among other forms of relief.