Case: 3:25-cv-00698 Document #: 1 Filed: 08/20/25 Page 44 of 47
in the context of a commercial advertisement or promotion, including Instagram advertisements, posts, and Reels, TikTok video product promotions, TV commercials, paid or sponsored product placements on social media platforms, YouTube videos or advertisements, X.com (formerly Twitter) posts or advertisements, and on Kalshi’s own websites. These mediums are distributed across the Internet and designed to promote nationwide the purchasing or using of Kalshi’s platform, website(s), software, and/or applications to place sports betting or sports event “contracts.” 180. Kalshi knew or should have known its statements and/or advertising activities were false, misleading, and deceptive. Indeed, numerous online users have expressed concern or skepticism regarding the legality of the activities or “contracts” allowed on Kalshi’s platform, website(s), software, and/or application(s). See supra ¶¶ 101-103. Kalshi has continued to keep its false or misleading advertisements on its social media platforms, including advertisements that refer to Kalshi offering sports betting. 181. Kalshi’s false and misleading statements have deceived, and/or have the tendency to deceive, a substantial segment of their intended audience (including tribal members) about matters material to their decision making, and are likely to continue to materially deceive others in the future. Kalshi deliberately disseminated these false claims in various channels relied on by consumers, including tribal members. 182. Kalshi’s deception is also material, as it is likely to cause consumers, including tribal members, to use Kalshi’s platform, website(s), software, and/or application(s) to place sports bets or purchase sports event “contracts,” believing such use to be universally compliant and that Kalshi offers a legally compliant sports betting platform.
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