Illinois Gaming Board investigates Kalshi for illegal sports wagering
A cease-and-desist letter confirms unlicensed betting activity by Kalshi.
Key Points
- The Illinois Gaming Board (IGB) has confirmed Kalshi’s suspected involvement in illegal sports wagering activities
- The cease-and-desist letter details Kalshi’s violation of the Illinois Sports Wagering Act by accepting wagers on sports events without proper licensing
The Illinois Gaming Board (IGB) is currently investigating Kalshi over alleged unlicensed sports wagering. The company has been investigated for operating outside the legal framework. This may have violated the Illinois Sports Wagering Act, which governs the acceptance of sports bets within the state. This action mirrors similar steps taken by states such as Nevada, New Jersey and Ohio against Kalshi and its affiliated platforms.
Tarek Mansour, Kalshi CEO, and Eliezer Mishory, Kalshi Chief Regulatory Officer and General Counsel, have been included in the email. The Board’s investigation suggests that Kalshi has been accepting sports wagers on a variety of events, including individual athlete statistics and entire sporting events, through online platforms, mobile devices and other methods of betting.
It is not lawful to engage in a sports wagering operation or activity in Illinois unless licensed by the IGB. 230 ILCS 45/25-20(a). As a result, Kalshi and anyone affiliated with its operations are directed to cease and desist this illegal activity.
Good to know: The IGB has ordered the company to stop all such activities immediately, warning of potential civil or criminal penalties if non-compliance occurs
Kalshi has launched legal action, including lawsuits against Nevada’s gaming regulators, disputing the cease-and-desist orders and claiming its operations are subject to federal jurisdiction.
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