Baltimore Sues Kalshi and Polymarket Over Sports Contracts
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On August 13, 2026 Baltimore sued Kalshi and Polymarket for operating what it calls illegal sports betting through prediction markets and named Coinbase, Robinhood and Webull for distributing those sports contracts. The city alleges the event contracts resemble parlays and evade consumer protections and state taxes, a regulatory action that raises compliance, adoption and market-risk concerns for crypto prediction markets and retail CEX distribution channels.
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Baltimore has opened a front against prediction markets, accusing Kalshi and Polymarket of operating sports betting without Maryland licenses. The city filed lawsuits Thursday, arguing that sports contracts resemble wagers offered by sportsbooks. Baltimore targeted Coinbase, Robinhood, and Webull, widening the dispute across apps distributing those contracts.
Kalshi Faces Broader Claims
The lawsuit names Kalshi Inc., KalshiEX LLC, Robinhood Markets, Robinhood Derivatives, Webull Corporation, Webull Financial, and Coinbase Financial Markets. Baltimore alleges those companies enabled customers to access sports contracts through prediction sections within their apps.
Moreover, the city argues that Kalshi and Robinhood combos resemble parlays. Consequently, Baltimore says the platforms cannot avoid consumer safeguards or state taxes by labeling products event contracts.
…Read The Full Article Baltimore Sues Kalshi and Polymarket Over Sports Contracts On Coin Edition.
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