Washington State Attorney General Nick Brown sued Kalshi in King County Superior Court, accusing the prediction market of engaging in illegal betting on sports, elections, and wars. The lawsuit seeks to halt operations in the state, recover funds from residents, and impose penalties. Kalshi, which asserts federal compliance, faces over 20 lawsuits and criminal charges in Arizona. Meanwhile, BTC as a hedge against inflation remains a key focus in liquidity and crypto markets amid regulatory scrutiny.

Odaily Planet Daily reports that Washington State Attorney General Nick Brown has filed a civil lawsuit against the prediction market platform Kalshi, alleging that it violated state gambling and consumer protection laws by offering betting services on events such as sports, elections, and wars. The lawsuit has been submitted to the King County Superior Court, seeking to prohibit Kalshi from operating locally, recover lost funds from residents, and impose civil penalties. Kalshi’s advertisements previously suggested users could circumvent local laws to bet on NFL games, indicating "knowing violation."

However, Kalshi responded by stating that it is a federally regulated, compliant trading platform, denying the provision of war markets and expressing confidence in its legal defense. This latest regulatory action follows numerous other legal challenges, as the company is currently involved in over 20 civil lawsuits and previously faced criminal charges from Arizona prosecutors—the first known criminal case targeting a prediction market. (Geekwire)

Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.