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04.12.25 - 22:48
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Connecticut Orders Robinhood, Crypto.com, & Kalshi To Stop Prediction Markets (ZeroHedge)
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Connecticut Orders Robinhood, Crypto.com, & Kalshi To Stop Prediction Markets
Connecticut's Department of Consumer Protection issued cease-and-desist orders to Kalshi, Robinhood and Crypto.com, alleging that the platforms are conducting unlicensed online gambling there.
“Only licensed entities may offer sports wagering in the state of Connecticut,” DCP commissioner Bryan T. Cafferelli said in a statement on Wednesday.
“None of these entities possess a license to offer wagering in our state, and even if they did, their contacts violate numerous other state laws and policies, including offering wagers to individuals under the age of 21.”
DCP Gaming Director Kris Gilman accused the platforms of “deceptively advertising that their services are legal,” adding that they operate outside of the state's regulatory environment, “posing a serious risk to consumers who may not realize that wagers placed on these illegal platforms offer no protections for their money or information.”
As C...
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