Prediction market platform Kalshi has been granted a temporary stay of enforcement action by Connecticut regulators after the Connecticut Department of Consumer Protection issued cease and desist orders to Kalshi, Robinhood and Crypto.com on December 2, accusing them of providing unlicensed sports-related betting services.
Kalshi then filed a lawsuit against Connecticut authorities a day later, arguing that its marketplace, which allows users to trade the outcomes of future events, was a derivative regulated by the Commodity Futures Trading Commission. The company also sought a temporary restraining order to prevent Connecticut from taking any action that could interfere with its operations.
Kalshi has received permission from Connecticut regulators to temporarily suspend enforcement actions
2025-12-10 08:10:34
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