Oregon class action lawsuit targets Kalshi over alleged illegal sports betting platform operations

Prediction market company Kalshi is now battling a string of class action lawsuits that accuse it of operating what amounts to unlicensed sports betting. The cases, filed in several states, argue that the company’s online trading platform crosses the line into illegal gambling.

In Oregon, a new federal class action lawsuit filed on Friday (February 20) by plaintiff Ian Reynolds claims Kalshi and related entities are running “an illegal online gambling enterprise” under state law.

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