Massachusetts Judge Questions Legality of Kalshi's Sports Betting Platform

A Massachusetts judge is evaluating whether prediction-market operator Kalshi's sports betting offerings violate state gaming laws. The company's legal standing is questioned despite claims that their contracts fall under federal regulations. Massachusetts seeks to block Kalshi's operations, with a ruling expected in January.

A Massachusetts judge is examining the legality of prediction-market operator Kalshi's sports betting services, citing potential violations of state gaming regulations.

Kalshi, a New York-based company offering event-based contracts, argues their offerings fall under the jurisdiction of the U.S. Commodity Futures Trading Commission, not state laws.

The legal outcome in Massachusetts is crucial for Kalshi, already involved in disputes with other states. The judge plans to issue a ruling in January.

(With inputs from agencies.)