Wisconsin Sues Kalshi, Polymarket, Coinbase Over Sports Betting Contracts

Wisconsin Attorney General Josh Kaul sued Kalshi, Polymarket, Robinhood, Crypto.com, and Coinbase over sports-related event contracts, and the complaint alleges Kalshi generates more than $1 billion a year from sports contracts. The lawsuits ask a Dane County court to declare the offerings illegal gambling and public nuisances under Wisconsin law. Wisconsin cited platform marketing in the filings, including Kalshi ads calling itself the first nationwide legal sports betting platform. The action follows a similar lawsuit filed Tuesday by New York Attorney General Letitia James.

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