Wisconsin, USA sues platforms including Kalshi, calling prediction markets unlicensed gambling

Odaily Planet Daily News: Wisconsin Attorney General Josh Kaul has sued Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, alleging that the prediction markets they offer are essentially unlicensed gambling activities.

The complaint states that the marketing methods of these platforms and the pricing structure of their event contracts meet the state's legal definition of gambling. The case further intensifies the conflict between state-level regulation and the federal jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC). (CoinDesk)