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Massachusetts, US, sues forecasting market platform Kalshi for alleged sports betting violations

Internet reported that Andrea Joy Campbell, the U.S. Attorney General of Massachusetts, filed a lawsuit against forecasting market platform Kalshi, accusing its sports event contracts of violating state gaming laws and operating in a manner similar to a licensed gaming company. The complaint seeks to prohibit Kalshi from offering sports prediction markets without a license and seeks monetary compensation. Prosecutors pointed out that the platform used gambling psychological design to attract users. Kalshi, who had a dispute with the federal CFTC, was conceded this year, and its board member Brian Quintenz was Trump's nominee for chairman of the CFTC. Kalshi said the platform is fair and transparent and will defend innovation in court.

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