Man who lost $308,000 on sports bets sues Kalshi for offering illegal gambling

A Washington resident filed suit against Kalshi, a prediction market platform, seeking return of $308,000 in losses from sports betting placed through the service. The plaintiff claims the betting constitutes illegal gambling under Washington state law. Kalshi operates as a federally regulated derivatives exchange but does not hold a Washington state gambling license.

• Ars Technica — Man who lost $308,000 on sports bets sues Kalshi for offering illegal gambling

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