Global marketsUpdated November 5

Arkansas sues Kalshi over state gambling law.

Arkansas Attorney General Tim Griffin has filed a new lawsuit against Kalshi, arguing that its prediction markets amount to gambling prohibited by state law. When announcing the suit, Griffin said Kalshi insists its products are not gambling, but Arkansas law looks at substance, not semantics. He points to a bet on whether the Razorbacks win or lose, and says Kalshi lets customers wager money on just about anything. Griffin also argues that gambling on an unregulated platform is prohibited in Arkansas, and is seeking restitution, penalties and taxes.

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Coverage started November 5