Massachusetts Sues Kalshi Over Alleged Illegal Sports Betting
Kalshi, a prediction market platform, is prepared to defend itself against a Massachusetts lawsuit accusing it of offering unlicensed sports betting, arguing that its activities are regulated at the federal level by the CFTC and that the state's legal approach is outdated. The company emphasizes the importance of prediction markets as a 21st-century innovation and is fighting legal challenges in multiple states, amid broader industry developments including Polymarket's potential US re-entry.