Kalshi Faces Multi-State Lawsuits as Prediction Markets Labeled ‘Disguised Gambling’

TLDR: Washington state sued Kalshi on Friday, alleging its prediction market products violate state online gambling laws. Nevada secured a temporary restraining order forcing Kalshi to halt sports, election, and entertainment contracts statewide. Coinbase, a Kalshi partner, received a preliminary injunction and 60 days to comply with Nevada’s court order. Legal experts say the federal [...]

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