By Kiera Riley | State Affairs
The U.S. Commodity Futures Trading Commission has sued Attorney General Kris Mayes over her prosecution of Kalshi, a prediction market site, for illegal gambling and election wagering.
In a complaint filed April 2, the commission claimed exclusive jurisdiction over regulation and contends the company is “doing precisely what is permitted under federal law.”
On March 16, Mayes levied 20 criminal counts against Kalshi, alleging the company illegally accepted bets on sports games as well as wagers on political outcomes — including the odds of the SAVE Act becoming law, the 2028 presidential election, the 2026 congressional election, Arizona’s 2026 gubernatorial primary and general elections, and the secretary of state’s race.
State lawmakers legalized event wagering and fantasy sports betting in 2021, but, as part of that deal, the Arizona Department of Gaming issued only a limited number of licenses — none of which went to Kalshi.
