Connecticut Sues Kalshi Over Sports Prediction Contracts

Connecticut has sued Kalshi, intensifying a growing legal battle over whether prediction markets can offer sports contracts nationwide. The state claims Kalshi crosses the line into unlicensed sports gambling. However, Kalshi argues federal regulators have exclusive authority over its markets.

Connecticut Challenges Kalshi’s Sports Contracts

Connecticut Attorney General William Tong filed the lawsuit Thursday against the prediction market operator. The state says Kalshi’s sports contracts effectively function as traditional sports bets.

Additionally, Connecticut points to contracts covering team wins, game scores, and point spreads. Consequently, officials argue these products violate state consumer protection laws.

The dispute follows enforcement action that began last year. Connecticut ordered Kalshi and two other platforms to stop offering unlicensed sports wa…

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