Louisiana AG sues Kalshi, Polymarket, Robinhood, Coinbase, and Gemini over prediction markets
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Louisiana Attorney General Liz Murrill sued Kalshi, Polymarket, Robinhood, Coinbase, and Gemini over their prediction-market offerings, arguing the products constitute gambling subject to state oversight. The action sharpens the conflict between state regulators and the federal Commodity Futures Trading Commission, which has asserted jurisdiction over event contracts traded on CFTC-regulated exchanges such as Kalshi. The suit could redraw legal boundaries for platforms that list event contracts alongside crypto and brokerage services, exposing them to state licensing and enforcement. How courts reconcile state gambling laws with federal derivatives oversight will determine whether prediction markets can scale nationally or must navigate a patchwork of state rules.
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Named in this story
Louisiana AG, Polymarket, Kalshi, Robinhood (HOOD), Gemini, Coinbase (COIN)
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