Judge orders Kalshi to shut down most of its bets in Washington.

A preliminary injunction issued Wednesday finds the prediction market has likely broken state laws against running an illegal gambling operation. Washington State AG Nick Brown: > The order requires Kalshi to stop offering, accepting, or facilitating wagers on sports, elections, politics, entertainment, culture, tech and science, or mentions in Washington. Kalshi must implement an IP address and residency based geofence by August 19 and a multi-source geofencing solution by September 2. > This does not include all the wagers offered on Kalshi, but it includes a substantial part of their business, which in recent years has been increasingly driven by sports wagers.