Missouri Attorney General Catherine Hanaway is ordering six prediction market companies to halt all sports-related “event contracts.”
Hanaway’s office sent letters to Polymarket, Kalshi, Crypto.com, Novig, Underdog, and Robinhood, ordering them to stop offering sports event contracts. The letters accuse the companies of operating sports wagering outside of the framework established by voters in 2024.
“Missourians voted for a safe, well‑regulated sports wagering market that supports public education and addresses problem gambling. Companies cannot repackage sports bets as ‘event contracts’ to avoid Missouri law,” Hawanay said in a press release.
According to the Associated Press, prediction markets have tried to distinguish themselves from gambling by emphasizing that their users aren’t placing bets; they’re making a prediction on the probable outcome of an event. Many allow users to start at 18, mirroring the minimum age requirement for investing in the stock market.
