Tribal nations sue Kalshi and Robinhood over prediction markets
Four tribal nations have filed federal lawsuits against Kalshi and Robinhood, alleging their prediction markets breach federal law and state-tribal exclusivity compacts. Tribal representatives say sports event contracts amount to betting, while the platforms maintain they operate as financial markets and do not conduct business on designated tribal lands.
The cases could affect whether prediction platforms face tribal and state gambling restrictions on sports event contracts.