A Massachusetts judge on Tuesday questioned whether prediction-markets operator Kalshi could legally offer the state’s residents the ability to place financial bets on something as “trivial” as who wins sporting events without running afoul of gaming regulators.
Suffolk County Superior Court Judge Christopher Barry-Smith raised that question during a hearing in Boston as lawyers for the state urged him to bar Kalshi from continuing to operate what they contend is an unlicensed sports wagering enterprise offering an addictive product to consumers as young as 18.
The New York-based company gives its users the opportunity to profit from predictions on events ranging from sports and entertainment to politics and the economy.
