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Massachusetts AG Sues Kalshi for Illegal Sports Betting

9/13/2025

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Summary

Story summary

Massachusetts Attorney General Andrea Joy Campbell filed a lawsuit against Kalshi on September 12, 2025, for operating an illegal sports betting platform.
The lawsuit claims Kalshi accepted over $1 billion in sports wagers in 2025 without proper licensing.
Campbell states that over 75% of Kalshi's trading volume comes from sports event contracts, exceeding licensed sportsbooks like DraftKings and FanDuel.
Kalshi faces legal challenges from multiple states, including cease-and-desist orders from seven states.
The platform has been accused of employing gambling psychology and recently launched a parlay product.

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Story summary

Massachusetts Attorney General Andrea Joy Campbell filed a lawsuit against Kalshi on September 12, 2025, for operating an illegal sports betting platform.
The lawsuit claims Kalshi accepted over $1 billion in sports wagers in 2025 without proper licensing.
Campbell states that over 75% of Kalshi's trading volume comes from sports event contracts, exceeding licensed sportsbooks like DraftKings and FanDuel.
Kalshi faces legal challenges from multiple states, including cease-and-desist orders from seven states.
The platform has been accused of employing gambling psychology and recently launched a parlay product.