The state accused Kalshi on Tuesday of operating an illegal gambling business, escalating the legal battle between states and prediction markets.

Arizona prosecutors filed criminal charges against the prediction market Kalshi on Monday, accusing the platform of running an illegal gambling outfit in the Grand Canyon State.

Arizona's attorney general filed criminal charges Tuesday against prediction market platform Kalshi, accusing the company of illegally accepting bets on election outcomes and sporting events."Kalshi

Arizona prosecutors filed criminal charges against the prediction market Kalshi on Monday, accusing the platform of running an illegal gambling outfit in the Grand Canyon State.