As per Coindesk, Connecticut has issued cease-and-desist orders to Kalshi, Robinhood, and Crypto.com, accusing them of conducting unlicensed online sports wagering. The state's Department of Consumer Protection claims the companies are violating state laws by offering contracts to residents without proper licensing. Robinhood stated its event contracts are federally regulated by the CFTC, while the other two companies did not immediately respond. Connecticut identified Draft Kings, FanDuel, and Fanatics as the only entities licensed to offer sports wagering in the state. Failure to comply could result in civil or criminal penalties.
Connecticut Orders Kalshi, Robinhood, and Crypto.com to Cease Sports Betting
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