Rhode Island, Kalshi Exchange Lawsuits Over Sports Contracts

Rhode Island AG sues Kalshi, Polymarket after preemptive suit

Rhode Island is the latest state to take legal action against prediction markets that offer sports event contracts that resemble state-sanctioned online sports wagers. State Attorney General Peter F. Neronha filed a lawsuit Thursday in Rhode Island Superior Court against Kalshi and Polymarket for offering sports event contracts that are “subject to Rhode Island state gambling laws.” “There is no substantive difference between sports betting and …

Rhode Island, Kalshi Exchange Lawsuits Over Sports Contracts

Rhode Island is suing Kalshi and Polymarket for unlawfully conducting sports gambling in the state with their sports-related event contracts. Kalshi sued Neronha and other Rhode Island officials for trying to stop their services in the state. While Kalshi argue they are legal and federally regulated, Rhode Island officials believe that prediction market companies circumvent state gambling laws. PROVIDENCE, R.I. – Rhode Island Attorney General Pe…

Kalshi battles Rhode Island officials as prediction markets face state challenges

Kalshi sued Rhode Island officials on Thursday (May 21), accusing the state of trying to block its federally regulated prediction market business through threatened gambling enforcement. The complaint landed in the U.S. District Court for the District of Rhode Island and immediately escalated a widening national fight over sports-related event contracts. The lawsuit names Rhode Island Attorney General Peter F. Neronha, Division of State Lottery …