Connecticut Cracks Down on Unlicensed Prediction Platforms, Impacting Major Players

Connecticut has initiated legal action against several prominent prediction platform providers, including Robinhood, Kalshi, and Crypto.com, for operating unlicensed sports betting services within the state. The Connecticut Department of Consumer Protection (DCP) asserts these platforms operate outside legal boundaries established by state regulations. This move could significantly impact the future of prediction markets in Connecticut, highlighting a growing tension between federal and state regulatory frameworks.