Arizona AG Files Criminal Charges Against Futures Trading Platform Kalshi

The Kalshi app is shown in Chicago, Ill., on Feb. 25, 2026. Scott Olson/Getty ImagesArizona Attorney General Kris Mayes on March 17 filed charges against prediction market platform KalshiEX LLC and Kalshi Trading LLC for running an illegal and unlicensed gambling and election wagering business in the state. The 20-count indictment alleges that Kalshi took bets from Arizona residents on a wide range of events, including professional sports, prop bets on individual player performances, and other forms of wagering, and also took bets on upcoming state and national political races.