Suns’ Devin Booker partners Kalshi, which faces Arizona gambling criminal complaint

PHOENIX – As March Madness prepares to tip off on the court, a different kind of contest is underway in court.

On the heels of Suns star Devin Booker announcing a high-stakes partnership with Kalshi and its “$1 Billion Bracket Challenge,” Arizona Attorney General Kris Mayes appeared to dunk on the contest Tuesday, filing criminal charges against the prediction market platform that allege the company is running an illegal gambling operation in Arizona.

The March Madness promotion offers the massive prize to anyone who can correctly predict the outcome of all 63 men’s NCAA Tournament games. It is centered around one of the most unpredictable events in sports and also promises $1 million to the highest-scoring bracket if no perfect entry is submitted. The criminal complaint could leave the future of the contest up in the air while the case unfolds.

“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,” Mayes said in a statement released by her office. “No company gets to decide for itself which laws to follow.” 

The legal filing outlined a 20-count criminal complaint, all misdemeanor charges, against Kalshi. According to the allegations, the company had accepted bets from Arizona residents on professional and college sports contests, proposition bets on individual player performances and even political outcomes. 

Among the most significant charges were four counts related to election wagering, including bets tied to the 2028 presidential race, the 2026 Arizona gubernatorial race, the 2026 Arizona Republican gubernatorial primary and the 2026 Arizona Secretary of State race. Election betting is strictly prohibited under Arizona law, elevating the case beyond typical gambling violations.

Before the criminal charges were filed, Kalshi had already taken legal action of its own. On Thursday, the company sued the State of Arizona in an apparent attempt to block enforcement actions and clarify its legal standing. This preemptive move suggests that Kalshi anticipated the charges and sought to defend its business before facing potential penalties.

“Kalshi is making a habit of suing states rather than following their laws,” Mayes said in the statement. “In the last three weeks alone, the company has filed lawsuits against Iowa and Utah, and now Arizona. Rather than work within the legal frameworks that states like Arizona have established, Kalshi is running to federal court to try to avoid accountability.”

Kalshi is a federally regulated financial exchange overseen by the Commodity Futures Trading Commission.

Mayes’ office did not provide any additional comment on the ongoing case.

Booker’s involvement

On Monday afternoon, Booker posted an image of himself on the social media platform X with a statement that makes reference to his 2014-15 season at Kentucky, when the Wildcats finished 31-0 in the regular season and advanced to the Final Four before losing to Wisconsin in a national semifinal. 

“Everyone thought we were going to finish perfect. We didn’t,” Booker’s statement said. “That’s life. But that doesn’t stop you from chasing it. That’s why this March I’m teaming up with Kalshi to pursue perfection again.”

The post also included Kalshi’s claim that it will donate $500,000 to Booker’s charity, Starting Five, and provide $500,000 in scholarship money.