Baltimore sues Kalshi and Polymarket over allegedly illegal sports betting markets

Baltimore is taking legal action against Kalshi and Polymarket, alleging that these prediction-market companies are operating illegal sportsbooks. The lawsuits claim the firms are running unauthorized sports betting markets. Additionally, a judge in Washington state has ruled that Kalshi is clearly violating state laws regarding illegal gambling, sports wagering, and bookmaking. These legal challenges target the operational nature of prediction markets when they function as platforms for sports betting activities within these jurisdictions.