Kalshi has been sued by Arizona's attorney general for operating an illegal gambling business in the state and unlawfully ‌allowing people to place bets on elections. "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," the state's Attorney General Kris Mayes said. 

The company defines itself as a prediction markets platform, where users make bets on the outcomes of events ranging from sporting matches to political actions. Kalshi has claimed that it operates under the auspices of the Commodity Futures Trading Commission and shouldn't be faced with the state-level charges of running unlicensed gambling. 

The case follows a similar action against Kalshi filed in Nevada last month. Kalshi also made headlines this year when an employee of popular YouTuber MrBeast was accused of insider trading on the platform.

This article originally appeared on Engadget at https://www.engadget.com/big-tech/arizona-attorney-general-sues-kalshi-on-illegal-gambling-charges-172006290.html?src=rss

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The UK Gambling Commission has raised concerns that Meta is ignoring advertisements by illegal gambling websites on its platforms. At a conference in Barcelona, the commission's Executive Director Tim Miller criticized Meta's behavior towards advertisements for online gambling on its Facebook and Instagram social networks.

"Companies like Meta will tell you that they don’t tolerate the advertising of illegal sites and will remove them if they are notified about them," Miller's speech transcript reads. "But that approach suggests that they don’t know about those ads unless alerted. That is simply false."

Meta's internal policy is that gambling sites must be licensed in the markets where their ads run. However, the agency was able to conduct basic searches for advertisers that are not on its GamStop platform, which helps people block themselves from accessing online gambling sites. GamStop integration is required for an operator to receive a UK license. 

"I would be very surprised if Meta, as one of the world’s largest tech companies is incapable of proactively using their own keyword facility to prevent the advertising of illegal gambling," Miller said. "It could leave you with the impression they are quite happy to turn a blind eye and continue taking money from criminals and scammers until someone shouts about it."

This article originally appeared on Engadget at https://www.engadget.com/social-media/uk-agency-questions-metas-policies-for-illegal-gambling-site-ads-210500714.html?src=rss

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