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New Jersey DGE orders Robinhood and Kalshi to stop NCAA event contracts

Enforcement & compliance

New Jersey's Division of Gaming Enforcement sent cease-and-desist letters to Robinhood and Kalshi over event contracts on NCAA basketball tournaments, saying they violate state sports-wagering law. The companies must respond in writing before midnight on 28 March 2025; the regulator also said Kalshi's collegiate-event contracts breach the state constitution when they involve New Jersey teams or events held in the state.

The order challenges the availability of sports event contracts in a major US wagering market.

Earlier fines and penalties by NGCB

DateCompanyAmountStoryAppeal status
Resorts World Las VegasUSD 10,500,000Nevada Gaming Control Board agrees $10.5m settlement with Resorts World Las VegasNot stated
KalshiNot statedNevada gaming board orders Kalshi to stop offering event contracts by 14 MarchNot stated
KalshiNot statedNevada Gaming Control Board orders Kalshi to halt state operationsNot stated

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