Arkansas sues Kalshi over unlicensed sports betting, seeks penalties

Arkansas has filed a lawsuit against prediction market platform Kalshi, alleging it operates unlicensed sports betting in the state. The suit seeks restitution, penalties and restrictions on the platform, adding to a broader dispute between federal and state regulators over who oversees such markets. Traders should watch for legal precedent that could constrain Kalshi's US operations and the wider event-contract sector.