Kentucky sues Kalshi, Polymarket, joining prediction market legal battle
Kentucky has sued five prediction market platforms, including Kalshi and Polymarket, adding to a wave of US states launching legal fights with prediction markets over sports event contracts.
State Attorney General Russell Coleman said in a statement Wednesday that his office filed lawsuits in state court against Polymarket and Kalshi — also naming Kalshi partners Coinbase, Robinhood and Webull — accusing them of “operating unlicensed and illegal sports betting and gambling platforms.”
“Kalshi and Polymarket are operating illegal sportsbooks in Kentucky and breaking our laws,” Coleman said. “These multi-billion dollar corporations and their legal fictions don’t pass the sniff test. As one of our state legislative leaders said it best, ‘If it looks like a duck and quacks like a duck…’”