New Mexico sues Kalshi as tribes escalate sports betting fight Suswati Basu New Mexico Attorney General Raúl Torrez has filed suit against prediction market operator Kalshi, arguing the company is offering online sports betting in the state without the licenses required under New Mexico law. The case, filed Thursday (June 4) in Santa … Continue reading New Mexico sues Kalshi as tribes escalate sports betting fight
Illinois budget bill targets sports prediction markets with unique transaction tax Suswati Basu Illinois lawmakers have signed off on a budget measure that would create what appears to be the first state tax aimed specifically at sports event contracts traded through prediction markets. The provision was included in the wider revenue package contained … Continue reading Illinois budget bill targets sports prediction markets with unique transaction tax
Connecticut tribes seek to join federal lawsuit over controversial sports prediction markets Suswati Basu Connecticut’s two federally recognized tribes are asking a federal judge to let them join the government’s legal fight over sports prediction markets, arguing the outcome could reshape gambling oversight and threaten a major stream of tribal income. The Mohegan … Continue reading Connecticut tribes seek to join federal lawsuit over controversial sports prediction markets
Inspectors uncovered widespread sports gambling materials displayed throughout Pennsylvania federal penitentiary Suswati Basu Inspectors found gambling materials and a makeshift betting table inside USP Canaan housing units. Credit: OIG, June 2025 (Monitor Screen and Brand Logo Obscured) Federal inspectors say sports gambling materials were sitting out in the open across several housing … Continue reading Inspectors uncovered widespread sports gambling materials displayed throughout Pennsylvania federal penitentiary
Arizona sports contracts lawsuit against Kalshi paused while Ninth Circuit appeals continue Suswati Basu A legal fight over prediction markets and state gambling authority is now on hold in Arizona while federal appeals judges weigh several related cases. Kalshi, the Commodity Futures Trading Commission, the Justice Department, and Arizona regulators jointly asked a … Continue reading Arizona sports contracts lawsuit against Kalshi paused while Ninth Circuit appeals continue
New Mexico tribes challenge Kalshi sports contracts over alleged illegal gambling Suswati Basu Four New Mexico tribes are taking prediction market company Kalshi to federal court, arguing that its sports contracts amount to illegal online sports betting conducted on tribal lands without approval from tribal regulators. The Mescalero Apache Tribe, Pueblo of Isleta, … Continue reading New Mexico tribes challenge Kalshi sports contracts over alleged illegal gambling
Wisconsin sues prediction market platforms over alleged illegal sports betting operations Paul McNally Wisconsin has filed a civil complaint in Dane County Circuit Court accusing Kalshi, Robinhood, and Coinbase, along with affiliated subsidiaries, of operating what it describes as illegal sports betting through prediction markets and event contracts under state law. The … Continue reading Wisconsin sues prediction market platforms over alleged illegal sports betting operations
CFTC’s one-man show gets awkward on the Hill as lawmakers hammer Selig on sports bets, staffing gaps and corruption claims Suswati Basu The Commodity Futures Trading Commission (CFTC) came to the House Agriculture Committee on Thursday (April 16), hoping to talk about market integrity and fraud. Instead, it got dragged into the much … Continue reading CFTC’s one-man show gets awkward on the Hill as lawmakers hammer Selig on sports bets, staffing gaps and corruption claims
Online sports betting grows rapidly as concerns about risks rise across the US, survey shows Suswati Basu Online sports betting is becoming a routine part of daily life across the United States, with participation continuing to climb even as unease about its effects grows. A new national survey released April 13 shows both … Continue reading Online sports betting grows rapidly as concerns about risks rise across the US, survey shows
Bipartisan senators push bill to ban sports prediction markets Suswati Basu A group of U.S. senators from both parties is targeting sports-related prediction markets, introducing a bipartisan bill that would outlaw the contracts altogether. The move ramps up an ongoing clash over whether these platforms function as legitimate financial tools or simply unregulated … Continue reading Bipartisan senators push bill to ban sports prediction markets
