Washington judge halts Kalshi ‘prediction market’ over state gambling laws
A judge granted Washington’s request to block Kalshi from offering its so-called event contracts in the state, saying the prediction markets platform likely violated the state’s gambling laws.
Judge John McHale of the King County Superior Court granted Washington’s motion for a preliminary injunction.
McHale said the state showed “a likelihood of actual and substantial injury to Washington consumers from illegal gambling activities” if no injunction were issued. He also said the public interest and potential harm to consumers outweighed harm to Kalshi.
Washington joined Massachusetts, Michigan and Nevada in winning court orders restricting Kalshi’s activities.
New York won a similar order on July 8, when a federal judge rejected Kalshi’s bid to block enforcement of that state’s gambling laws against the platform.
The U.S. Commodity Futures Trading Commission, meanwhile, has claimed exclusive jurisdiction over the industry, and challenged regulatory activity in at least nine states.