ASX:BAN 3 February 2026

March 17, 2026, 10:54 PM EDT. Arizona's attorney general has filed criminal charges against Kalshi, a New York-based online prediction market, accusing it of operating an unlicensed gambling business. The charges mark the first criminal case against Kalshi amid ongoing civil lawsuits over its legal status. The state alleges Kalshi allowed residents to bet on sports and elections without regulatory approval, violating state laws that restrict sports betting and ban election gambling. Kalshi disputes the allegations, calling the charges "seriously flawed" and pledging to fight them. The Commodity Futures Trading Commission (CFTC), which oversees Kalshi, defends the company's operations as lawful, framing the case as a jurisdictional dispute. The move highlights growing tensions between state regulators and federal authorities over online prediction markets' legality.