Wisconsin DOJ Targets Kalshi and Polymarket in Sweeping Prediction Market Crackdown
BeInCrypto
The Wisconsin DOJ has sued major platforms like Kalshi and Polymarket, alleging their sports-based event contracts constitute illegal commercial gambling.Summary
The Wisconsin Department of Justice has initiated lawsuits against Kalshi, Polymarket, Robinhood, Coinbase, and Crypto.com, seeking to halt their operations within the state. Authorities contend that these platforms are facilitating illegal sports betting by rebranding wagering activities as 'event contracts.' Attorney General Josh Kaul asserts that these companies are unlawfully generating revenue from Wisconsin residents in violation of state gambling laws. This action follows a broader trend of regulatory scrutiny, including similar lawsuits in New York and federal legislative efforts to ban sports-related event contracts.
(Source：BeInCrypto)