Source link : https://tech365.info/kalshi-and-rhode-island-sue-one-another-in-newest-problem-to-prediction-markets-engadget/
Rhode Island joins different states which have taken comparable authorized motion.
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Rhode Island is the most recent state to problem prediction markets on the legality of sports activities betting inside its jurisdiction. As reported by The Windfall Journal, opposing lawsuits from the state’s lawyer common, Peter Neronha, and Kalshi had been filed towards one another earlier this week. Neronha sued each Kalshi and Polymarket, accusing the platforms of circumventing the state’s laws that solely permits sports activities playing by means of a singular state-sponsored platform.
Nonetheless, Kalshi proactively filed its personal authorized motion towards Rhode Island arguing that its occasion contracts, together with these predicting the outcomes of sports activities occasions, can solely be regulated on a federal degree by the US Commodity Futures Buying and selling Fee (CFTC). Nonetheless, Rhode Island’s lawyer common is in search of a everlasting court-ordered ban that stops Kalshi and Polymarket from providing “sports-related events contract” within the state.
“There is no substantive difference between sports betting and ‘events contract’ in this context,” Neronha stated in a press launch. “Kalshi and Polymarket know that, and we know that.”
Whereas…
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Author : tech365
Publish date : 2026-05-24 16:56:00
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