Overview
- Baltimore filed separate complaints in Baltimore City Circuit Court against Kalshi and Polymarket and added Coinbase, Robinhood and Webull as co‑defendants in the Kalshi case, accusing the firms of offering sportsbook‑style markets without required local licenses.
- The city asks for maximum statutory fines, restitution for affected users, disgorgement of alleged unlawful gains and injunctions to block the platforms from offering sports contracts to Baltimore residents.
- A Washington state judge issued a final order that requires Kalshi to geofence Washington users out of most event markets with an IP‑ and residency‑based block by August 19 and a multi‑source geofencing solution by September 2, plus an advertising ban for restricted markets.
- A federal judge in Connecticut ruled that state sports‑betting rules may apply to Kalshi’s sports markets, and Kalshi and Polymarket say they will appeal while arguing their contracts are federally regulated swaps under CFTC authority.
- The suits widen a national legal fight over whether prediction‑market event contracts are state‑regulated gambling or federally regulated derivatives, a question that affects consumer protections, tax revenue and potential liability for broker partners that distribute these markets.