Washington judge clears path for injunction against Kalshi over prediction markets

A Washington judge has ruled that prediction market operator Kalshi likely violated the state’s gambling and consumer protection laws, paving the way for a preliminary injunction that could require the company to stop offering its event-based contracts to Washington residents while the lawsuit moves forward. King County Superior Court Judge John McHale found Washington is likely to prevail on key claims in its case against Kalshi and determined consumers face a likelihood of “actual and substant