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Maryland Cracks Down on Illegal Sports Betting Contracts

4/7/2025

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Summary

Story summary

Maryland regulators have taken a bold stand, issuing cease-and-desist orders to Kalshi, Robinhood, and Crypto.com for offering sports event contracts that mimic illegal betting. Joining five other states, the Maryland Lottery and Gaming Control Commission is prioritizing consumer protection and tax revenue, highlighting the companies' lack of proper licensing.

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Story summary

Maryland regulators have taken a bold stand, issuing cease-and-desist orders to Kalshi, Robinhood, and Crypto.com for offering sports event contracts that mimic illegal betting. Joining five other states, the Maryland Lottery and Gaming Control Commission is prioritizing consumer protection and tax revenue, highlighting the companies' lack of proper licensing.