Kalshi is accused of operating illegal sports betting.

TapChiBitcoin

2025-11-29 00:25:31

According to Bloomberg, Kalshi Inc. is facing a class action lawsuit in New York, accusing it of operating an unlicensed form of sports betting and misleading users about its market-making activities. The lawsuit claims that Kalshi allows its affiliate company Kalshi Trading to set unfavorable odds against customers, while promoting its services as “legal sports betting” despite lacking a gaming license in any state.

Co-founder Luana Lopes Lara dismissed all allegations, asserting that Kalshi's market-making activities comply with the model of regulated financial exchanges.

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