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Wisconsin sues 5 prediction markets for allegedly running illegal sports betting operations.

Market News
24 Apr 2026
PYMNTS
View Source
Bearish
pluang ai news

Wisconsin has filed lawsuits against five prediction market platforms, including Kalshi, Robinhood, Coinbase, Polymarket, and Crypto.com, accusing them of operating illegal sports betting within the state. The state claims these companies disguise sports betting as event contracts and charge fees, violating Wisconsin's gambling laws. The lawsuits seek to stop these operations and declare them a public nuisance. The companies argue they are federally regulated and plan to defend themselves, while the CFTC supports federal oversight over prediction markets to prevent state-level legal conflicts.

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