Mass. court halts Kalshi's sports bets pending license

Massachusetts won a preliminary injunction forcing Kalshi to stop offering sports event markets until it secures a sports wagering license, with the order taking effect Friday and Kalshi’s option to appeal. The ruling reinforces regulators’ view that Kalshi’s sports contracts resemble gambling and must be licensed, a stance reflected in ongoing suits against Kalshi in several states, including Nevada, New Jersey, Maryland, and California.