Judge Orders Kalshi to Stop Offering Most Wagers in Washington
Kalshi was told by a judge to stop offering most of its prediction market contracts in Washington state, after regulators said they likely constituted an illegal gambling operation.
A Washington judge has issued a new order directing prediction market operator Kalshi to restrict its operations within the state. King County Superior Court Judge John McHale signed the amended preliminary injunction on August 12, following a previous ruling that Kalshi was likely in violation of Washington's gambling and consumer protection laws.
The judge has given Kalshi a deadline to stop Washington residents from purchasing contracts related to sports, elections, politics, entertainment, culture, technology, science, and any mentions of specific words or phrases. Kalshi must also implement an IP-address and residency geofencing system by August 19, which can result in penalties if missed.
The court emphasized that Kalshi's advertisements claiming to offer legal betting in Washington state are misleading to consumers. Kalshi's customers can still close their accounts and withdraw funds.
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