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Connecticut Orders Kalshi, Robinhood, Crypto.com to Cease Sports Betting Operations
Summary: According to CoinDesk, Connecticut has launched a legal offensive against sports betting operators in the contract market, issuing cease and desist notices to three major prediction market operators - Robinhood, Kalshi, and Crypto.com. The state's consumer protection department accuses these companies of engaging in unlicensed sports betting. According to the state government notice, these companies ...
According to CoinDesk, Connecticut has launched a legal offensive against sports betting operators in the contract market, issuing cease and desist notices to three major prediction market operators - Robinhood, Kalshi, and Crypto.com. The state's consumer protection department accuses these companies of engaging in unlicensed sports betting.
According to the state government notice, these companies are hereby ordered to immediately cease and desist from advertising, providing, promoting, or in any way offering contracts or other forms of unlicensed online gambling to Connecticut residents.
Robinhood argued on Wednesday that the company is regulated by the U.S. federal government.
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Link: Connecticut Orders Kalshi, Robinhood, Crypto.com to Cease Sports Betting Operations [Copy]
