​AG Mayes filed criminal charges against KalshiEx LLC and Kalshi Trading LLC, the companies behind the Kalshi prediction markets platform, for operating an illegal gambling business in Arizona without a license as well as for election wagering.

"Kalshi may brand itself as a ‘prediction market,’ but what it’s actually doing is running an illegal gambling operation and taking bets on Arizona elections, both of which violate Arizona law. No company gets to decide for itself which laws to follow." – AG Mayes