A group of Native American tribes has argued that prediction market operators like Kalshi are diverting money away from tribal casinos, according to a new court brief.
According to Decrypt, the brief was filed by the Indian Gaming Association and 16 federally recognized Native American tribes, in support of the Connecticut Department of Consumer Protection, which is trying to shut down prediction platforms in the state.
Kalshi sued the Connecticut regulator in December, claiming it was threatened with imminent civil and criminal penalties for offering its prediction market contracts.
Shortly before the lawsuit, Connecticut issued cease-and-desist orders to Kalshi and two other operators, Robinhood and Crypto.com, ordering them to stop offering sports event contracts.
