Massachusetts sued Kalshi for suspected violation of sports betting

Huobi HTX reported that Massachusetts Attorney General Andrea Joy Campbell filed a lawsuit against Kalshi, a prediction market platform, accusing his sports event contract of violating state gambling laws and operating in a similar manner to a licensed bookmaker. The complaint requires Kalshi to be prohibited from offering a sports forecasting market without a license and seeking monetary compensation. The prosecutor pointed out that the platform uses gambling psychological design to attract users. Kalshi, who had a dispute with the federal CFTC, has been given concessions this year, with its board member Brian Quintenz nominated for Trump’s candidate for the president of the CFTC. Kalshi said the platform is fair and transparent and will defend innovation in court.