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Story summary
- Arizona Attorney General Kris Mayes filed charges against KalshiEX LLC on March 17, 2026, marking the first criminal prosecution of a CFTC-registered prediction market operator.
- The charges allege gambling operations, including 20 misdemeanor counts related to election and event wagering.
- KalshiEX LLC has responded with a federal lawsuit, arguing the charges aim to bypass federal jurisdiction.
- The case illustrates a multi-state dispute over regulating event contracts with implications for Kalshi.
