It’s Not Just Baltimore: Kalshi and Polymarket Face More Legal Trouble

Baltimore has taken legal action against prediction market operators Kalshi and Polymarket, accusing both companies of offering illegal sports betting in the city.

Mayor Brandon M. Scott and the Baltimore City Council filed separate lawsuits on August 13 in the Circuit Court. The cases allege violations of Baltimore’s Consumer Protection Ordinance and accuse the companies of misleading consumers about whether their products are legal and properly regulated.

Illegal Sports Betting

The complaints claimed that Kalshi and Polymarket allow Baltimore residents to bet on game winners, point spreads, point totals, player statistics, and other outcomes commonly offered by licensed sportsbooks. The companies describe these products as “event contracts” or prediction-market trades. According to the officials, the label does not change what the products are.

Neither platform, according to the lawsuits, has the licenses required to offer sports betting in Maryland. The city said that this lets them compete with regulated sportsbooks while avoiding the oversight, taxation, responsible-gambling requirements, and consumer protections imposed on licensed operators.

… Continue reading the full article at the original source below.