Baltimore Sues Kalshi and Polymarket Over Sports Contracts

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.

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