Add another cease-and-desist order to the wall for Kalshi, Robinhood, and Crypto.com — entities operating prediction markets nationwide — continuing to put the companies at odds with gaming regulators who accuse them of illegally circumventing their rules, regulations, and tax structures.
“Kalshi is not licensed and its operation of event wagering in Arizona is illegal,” wrote Douglas Jensen, chief law enforcement officer for the Arizona Department of Gaming (ADG), in a May 21 cease-and-desist order obtained by InGame, which is addressed to Kalshi CEO Tarek Mansour.
Similar letters were sent by Arizona officials to Kalshi partner Robinhood, as well as Crypto.com, regarding the sports-related markets on the platforms. This makes Arizona the seventh state to issue a cease-and-desist order to Kalshi, following actions in Nevada, New Jersey, Maryland, Montana, Ohio, and Illinois.
