Federal judge blocks Arizona criminal case against Kalshi
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A federal judge has blocked Arizona's criminal case against prediction market platform Kalshi, citing potential harm to the federal government's regulatory authority. The case, which involves 20 misdemeanor counts of illegal gambling, has been put on hold until at least April 24 as the federal government seeks to further stall the proceedings.
A federal court has temporarily blocked Arizona from pursuing its criminal case against Kalshi. The case was brought by Arizona Attorney General Kris Mayes' office, which filed 20 misdemeanor counts of illegal gambling against the platform. The federal government argued that it would suffer irreparable harm if the case was allowed to proceed, as the Commodity Futures Trading Commission has regulatory authority over Kalshi. The court's ruling means an April 13 arraignment will not go ahead as scheduled. The case is part of a larger debate over how to regulate prediction market platforms, with states and the federal government split on the issue. The federal government has indicated it will seek to further stall the case as it continues to argue that it has exclusive jurisdiction over Kalshi's business.
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