Arkansas Sues Kalshi Over Alleged Deceptive Trading Practices

Arkansas Attorney General Tim Griffin has filed a lawsuit against prediction-market platform Kalshi, accusing the company of deceptive business practices and unjust enrichment.

The complaint alleges Kalshi portrayed its services as lawful and safe for Arkansas customers while offering products that state officials classify as unlicensed gambling.

Arkansas also claims the platform was accessible to underage users, conduct the lawsuit says violates the state's Deceptive Trade Practices Act.

The case adds Arkansas to a broader dispute between Kalshi and state authorities over whether the company's event contracts should be treated as regulated trading products or gambling.