Baltimore Sues Kalshi and Polymarket for Alleged Illegal Sports Betting

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Baltimore Mayor Brandon Scott and the city council have filed a lawsuit against the prediction markets Kalshi and Polymarket, alleging they operate unlicensed sports betting platforms. The suit claims the platforms mislead users regarding the legal status of their services, which the city asserts violate local gambling laws. Robinhood, Webull, and Coinbase are named as partners. The case could affect liquidity and crypto markets by establishing a regulatory precedent. Enforcement of CFT (Countering the Financing of Terrorism) regulations is also a key concern in the ongoing legal dispute.

PANews, August 14: According to Cointelegraph, Baltimore Mayor Brandon Scott and the city council have filed a lawsuit against Kalshi and Polymarket, accusing the companies of violating local gambling laws. The two prediction market firms are alleged to operate “illegal, unlicensed sports betting platforms” and have misled users regarding the “legality and regulatory status” of their products. The core of the lawsuit challenges Kalshi and Polymarket’s characterization of event contracts, arguing that these trades constitute illegal gambling under state law. The lawsuit also names Robinhood, Webull, and Coinbase as partners of the prediction market platforms.

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