Attorneys General from Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Hawaii, Idaho and More Join Legal Action

Thirty-eight state attorneys general have joined a legal action initiated by Massachusetts against Kalshi, a prediction markets platform, over alleged violations of commodity trading regulations.

The attorneys general from Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming are listed as co-signatories to the legal filing.

The action centers on allegations that Kalshi operated as an unregistered exchange for trading event contracts, which fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC). Massachusetts initiated the lawsuit, asserting that the platform facilitated trades in prediction markets without proper federal registration or oversight.