Kalshi CEO: The allegations from the Arizona Attorney General are baseless and clearly an overreach

Kalshi's CEO Tarek Mansour responded to the incident of "Arizona Attorney General Kris Mayes filing a criminal lawsuit against Kalshi" by stating, "The allegations from the Arizona Attorney General are baseless and clearly an overreach. If they can bring these criminal charges against Kalshi, they could also file the same lawsuits against traditional derivatives at the Chicago Mercantile Exchange (CME) and Nasdaq, including options trading, interest rate swaps, and grain futures. Last week, we filed a lawsuit against Arizona in federal court.

However, instead of allowing the federal court to conduct a substantive hearing on the case, the Attorney General is attempting to bypass due judicial process by making false allegations in state court. We will not be intimidated, and we will continue to build."

According to previous reports from ChainCatcher, Arizona Attorney General Kris Mayes filed a criminal lawsuit against Kalshi, stating in the allegations, "Kalshi may tout itself as a 'prediction market,' but in reality, it operates illegal gambling activities and accepts bets on Arizona elections, both of which violate Arizona law. No company has the right to unilaterally decide which laws to follow."