TLDR Tech / Crypto
Washington Sues Kalshi as States Escalate Legal Pressure
Washington's Attorney General sued Kalshi on March 28, alleging the platform operates illegal gambling products under state law, one week after Nevada secured temporary restraining orders against both Kalshi and Coinbase, requiring the removal of sports, election, and entertainment event contracts. Kalshi is asserting exclusive federal jurisdiction as a CFTC-regulated derivatives exchange, a position CFTC Chair Mike Selig has publicly backed. Legal experts expect the state-versus-federal jurisdictional conflict to reach the US Supreme Court, where the ruling will determine whether prediction markets face a fragmented web of state gambling bans or unified federal oversight.
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