Arkansas Attorney General Tim Griffin writes in an opinion that prediction markets like Kalshi “violate the law” by offering what is simply a “rebranded” form of gambling without the required state license.
The state Office of the Attorney General published the opinion Thursday following questions from state Sen. Bryan King, who asked whether a company like Kalshi would be “in violation of state law” by operating in Arkansas without a license.
His questions concerned prediction markets in general but highlighted Kalshi as a platform that allowed customers to bet on events like sports and elections.
Griffin noted that interpretation of gambling laws has generally cast a wide net in order to ensure that operators can’t offer a product that is identical to gambling and use loopholes in the law to argue that it is not actually gambling.
