Massachusetts’ attorney general sued Friday to block Kalshi from operating its sports prediction platform in the state, opening yet another legal front for the company’s jurisdictional fight over competing state and federal regulations.
The suit in Suffolk County Superior Court said Kalshi, the $2 billion company that runs one of the largest prediction markets in the country, is covered by Massachusetts laws concerning sports betting, despite Kalshi’s claim that its federally regulated wagers aren’t subject to state oversight.
Kalshi was built to “appeal to mass-market speculation,” Massachusetts Attorney General Andrea Joy ...
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