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Kalshi responds to Louisiana ruling on prediction markets
NOLA.com • • business
Key Points:
- Louisiana Attorney General Liz Murrill sued Kalshi, Polymarket, Robinhood, and other websites offering event contracts, claiming these contracts constitute illegal gambling under state law.
- A Louisiana judge quickly issued a temporary restraining order barring these websites from offering prediction markets in the state, prompting Kalshi to notify customers they could no longer use the platform.
- Kalshi and similar companies argue their event contracts are federally regulated financial products, not subject to state gambling laws.
- Kalshi previously filed a federal lawsuit against Louisiana officials, challenging the state's authority to regulate its services, and sought a restraining order against the attorney general, which has yet to be ruled on.
- Attorney General Murrill emphasized that unlicensed gaming operations are illegal and subject to criminal penalties, citing widespread judicial agreement that these activities constitute gambling.
