Prediction market Kalshi is violating Massachusetts’ state gambling laws, its attorney general alleged in a lawsuit Friday.

Attorney General Andrea Joy Campbell alleged in a filing that sports event contracts, which Kalshi introduced in January 2025, violate the state’s sports wagering laws, which require operators to be licensed. Campbell is asking for a court to block Kalshi from offering sports prediction markets in the state without a license, as well as seeking monetary and other relief.

Prediction markets have grown in popularity over the past few years, with crypto-focused companies like Polymarket and firms like Kalshi seeing immense interest over questions such as who would win the last presidential election. While the Massachusetts filing notes that Kalshi does offer these different categories of prediction markets, its lone charge is focused on the company’s sports-related bets.

The filing said Kalshi’s prediction markets, which are structured as binary options, operate the same way licensed sports wagering operators’ products do, comparing it to FanDuel as an example.

“Kalshi is in the business of accepting wagers, defined as ‘a sum of money or thing of value risked on an uncertain occurrence’ on amateur and professional sporting events

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Author: Nikhilesh De