SectorWire
SearchRegister
MenuClose

Robinhood sues Massachusetts over state authority on Kalshi prediction markets

Regulation

Robinhood filed a federal lawsuit against the Massachusetts attorney general and Massachusetts Gaming Commission, seeking to prevent state gambling enforcement against sports prediction markets it offers through Kalshi. Robinhood argues that federal regulation of Kalshi’s markets means Massachusetts gambling laws do not apply; the state attorney general separately alleges Kalshi offers sports betting without complying with state law and has asked a court to halt those markets while her case proceeds.

The cases could determine whether Massachusetts can apply its gambling laws to sports prediction markets offered through Robinhood and Kalshi.

Request a correction

Flag an issue

Keep reading

Regulation

Kalshi sues Iowa officials over state authority for prediction markets

Kalshi filed a federal lawsuit against Iowa’s attorney general and racing and gaming commission, seeking to block potential state enforcement against its event-contract platform, according to the report. The company argues that federal oversight applies; meanwhile, a state senate committee has approved a bill proposing licensing and taxation for prediction-market platforms.

Continue reading