In the last week, prediction market operator Kalshi has faced back-to-back regulatory setbacks across multiple states as the company holds funding round talks with investors to raise its valuation to US$40 billion.
On Thursday, Kalshi was hit with a final order from a King County Superior Court Judge to cease the majority of its operations in the state of Washington, including markets on sports, elections, politics, entertainment, culture, tech, science, and any markets that mention Washington. The decision came after it was found that Kalshi most likely violated the state’s Gambling Act and its Consumer Protection Act.
