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Kentucky sues Kalshi and Polymarket over sports event contracts

Regulation

Kentucky Attorney General Russell Coleman announced that the state had sued Kalshi and Polymarket, alleging they offer sports-related event contracts without the licences required for gambling operators. The state also named Coinbase, Robinhood and Webull, while Polymarket said the action conflicts with the federal regulatory framework for prediction markets.

The lawsuit challenges whether Kentucky can apply gambling licensing rules to sports-related prediction contracts.

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Regulation

Ninth Circuit blocks Kalshi sports-event contracts on California tribal lands

The Ninth Circuit ruled for the Blue Lake Rancheria and Chicken Ranch Rancheria of Me-Wuk Indians, reversing a lower court and partially granting their request for a preliminary injunction. The three-judge panel found the tribes were likely to succeed in arguing that Kalshi’s sports-event contracts on tribal lands violated the Indian Gaming Regulatory Act and tribal gaming ordinances.

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