Crypto Exchange Kalshi Faces Criminal Charges in Arizona for 'Illegal Gambling'
The Arizona Attorney General's office has filed the first-ever criminal charges against the crypto exchange Kalshi, alleging it is operating an 'illegal gambling business'. This is the latest legal battle for the company.
Kalshi, a cryptocurrency exchange platform, is facing its toughest legal challenge yet as the Arizona Attorney General's office has filed the first-ever criminal charges against the company, accusing it of running an illegal gambling business. This marks a significant escalation in the ongoing battle between state regulators and the crypto industry, which has long claimed that it is not subject to the same laws and regulations as traditional financial institutions.
The charges allege that Kalshi has been operating a binary options trading platform that allows users to bet on the outcome of future events, which the state claims constitutes illegal gambling. Arizona Attorney General Mark Brnovich stated that Kalshi's activities
Source: TechCrunch
