AG Torrez announced that the New Mexico Department of Justice (NMDOJ) has filed a lawsuit against Kalshi, Inc. and KalshiEX LLC, alleging the company is unlawfully offering online sports betting in New Mexico while attempting to evade state gaming laws and the carefully negotiated framework that governs legal gaming in the state. The lawsuit alleges that Kalshi has created an online platform that functions as a sportsbook, allowing users to place wagers on sporting events while operating outside New Mexico’s licensing and regulatory requirements. 

“New Mexico has a longstanding and carefully balanced system for regulating gaming that protects consumers, ensures accountability, and respects tribal sovereignty. The only lawful gaming in New Mexico operates either under tribal-state gaming compacts, or under strict state regulations to ensure honest gaming free from corruption, and licenses gaming operators only after they explain how they plan to address compulsive gambling. Kalshi has ignored that framework entirely while offering online sports betting within the state. We are filing this lawsuit to protect the integrity of our laws, our regulatory system, and most importantly, consumers.” -AG Torrez