A group of regular Kalshi users, some of whom are self-professed addicts, have filed a class-action lawsuit against the prediction market over its claims that it is not a betting platform.
Alexander Hallman, Jeremy Kravetz, Daniel Greenberg, Nathaniel Bee, and Abhijn Gutta are the plaintiffs, who have all reportedly lost money to Kalshi through various means. Part of this is “related deceptive and misleading business practices,” which have been highlighted online in its advertisements.
One advert detailed in the suit positions Kalshi as a way to get out of debt. The advertisement features a woman unable to pay her rent, but then “got two years of rent through Kalshi’s predictions.” However, this has not been independently verified by ReadWrite.
