Wisconsin’s Department of Justice has filed three lawsuits against several prediction platforms, claiming they are enabling illegal sports betting.
The legal action is being taken against several operators, including Kalshi, Robinhood, Coinbase, Polymarket, and Crypto.com, accusing them of offering contracts tied to sporting events that the state alleges function as traditional gambling products.
Back in March, for example, Arizona Attorney General Kristin Mayes filed criminal charges against prediction market operator Kalshi.
Prediction markets argue that they fall under the jurisdiction of the Commodity Futures Trading Commission and that states do not have the legal footing to block them from operating.
