City of Baltimore goes after prediction markets for sports betting
The city’s complaint over gambling laws and deceptive trade practices included Robinhood, Webull and Coinbase as partners with prediction market platform Kalshi.
The City of Baltimore and its mayor, Brendan Scott, filed lawsuits against Kalshi and Polymarket over allegations that the companies violated local gambling laws.
In a Thursday notice, the Baltimore mayor’s office said that the two prediction market companies operated “illegal, unlicensed sports-betting platforms” and misled users about the ”legality and regulatory status of their products.” The lawsuits are centered on claims disputing Kalshi’s and Polymarket’s characterization of event contracts, arguing that the trades amount to unlawful wagers under state laws.
“These companies are running sportsbooks without licenses and betting that a new label will put them above the law,” said Scott. “It won’t. Baltimore will not let multibillion-dollar companies put profits over people and harm our communities through illegal gambling.”
