Clash with prediction market giant Kalshi reaches SJC

Clash with prediction market giant Kalshi reaches SJC

JUSTICES ON THE state’s highest court signaled that prediction market Kalshi is “swimming upstream” in its attempts to do an end-run around state sports gambling regulations. This thrusts the Bay State into a national debate over whether the booming prediction markets offer commodities subject to federal regulation or run-of-the mill sports betting traditionally regulated by the states. In September, Massachusetts Attorney General Andrea Campbel…

Kalshi’s Legal Argument Tested as Courts Probe ‘Swap’ Classification

Nearly 40 state attorneys general are now aligned against the prediction market industry's central legal argument, and the Massachusetts Supreme Judicial Court appears inclined to agree with them. Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)During oral arguments in Kalshi’s appeal, justices questioned whether Dodd-Frank’s swap definition can override state gambling law. That question matters directly for …

Kalshi Served with Class-Action Lawsuit in Massachusetts – DIR HONGKONG

(AsiaGameHub) –   Leading prediction market platform Kalshi now faces another legal challenge in Massachusetts, where a bettor claims the company is operating in violation of state gambling law. The lawsuit, filed at Suffolk Superior Court, charges Kalshi with running an unlicensed sportsbook operation while presenting itself as a financial exchange. Kalshi Allegedly Lacks Critical Consumer Safeguards The plaintiff, who resides in Raynham and is…