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Presenter argues Kalshi is a gambling operation, not a prediction market; reporter presses on legal standard
Summary
At a press conference the presenter said Kalshi’s site "looks and smells like gambling" and explained the office's basis for pursuing a case; a reporter asked how courts will be persuaded to treat prediction markets as gambling and what remedies are being sought.
A reporter asked, "What makes you confident that you'll get courts to label this company a gambling company as opposed to what it plans to be, a prediction market?" The presenter responded that the website's markets and the breadth of bets make it look like conventional gambling and pointed to other state cases reinforcing that reading: "it looks and smells like gambling because it is gambling."
When pressed about remedies, the presenter said the office is filing a motion for a preliminary injunction to prohibit the product in Washington and will, as the case proceeds, determine how much money was taken from Washingtonians and seek recovery. The presenter characterized the litigation strategy as seeking immediate relief to prevent ongoing harm while factual and legal issues are sorted in court.
