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Kalshi's Legal Battle Over Prediction Markets | Annapolis News
Kalshi’s prediction markets are sparking a legal firestorm as states like Massachusetts, Wisconsin, and Nevada accuse the company of running unlicensed sportsbooks — turning a financial derivatives platform into a gambling battleground. While Kalshi argues it’s federally regulated by the CFTC and thus beyond state control, opponents insist the risk-and-reward structure is identical to betting. Courts are split, and the outcome could redefine the future of prediction markets in the U.S. — either paving the way for federal innovation or forcing Kalshi into the same strict state gambling…
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