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Baltimore sues Kalshi and Polymarket over unlicensed sports betting
The city’s complaint names Robinhood, Webull, and Coinbase as partners on Kalshi’s sports prediction contracts in Maryland.
The City of Baltimore has filed lawsuits targeting prediction market platforms Kalshi and Polymarket, alleging they violated local gambling laws and engaged in deceptive trade practices, according to Cointelegraph.
In a Thursday notice, Baltimore’s mayor’s office said the platforms operated “illegal, unlicensed sports-betting platforms” and misled users about the legality and regulatory status of their products, framing the disputes around whether event contracts are effectively unlawful wagers under state law.
Cointelegraph reports that Baltimore mayor Brendan Scott said the companies were running sportsbooks without licenses and betting that a change in labeling would put them above the law.
In the complaint against Kalshi, Baltimore listed Robinhood, Webull, and Coinbase as partners, and accused them of marketing sports contracts as something that can “lawfully be purchased and traded in Maryland,” Cointelegraph added. The lawsuits add to the broader fight between state and federal authorities over whether prediction market event contracts fall under the US CFTC’s framework, the outlet said.