Explore the latest developments concerning Missouri AG targets.
Missouri AG targets Polymarket, Kalshi, others in prediction market crackdown
JEFFERSON CITY, Mo. (KCTV) – Missouri’s top attorney general is attempting to crack down on unlicensed prediction markets, sending cease-and-desist letters to several companies, including Polymarket and Kalshi.
In total, Missouri Attorney General Catherine Hanaway issued cease-and-desist letters to six companies for offering sports “event contracts” to Missourians. Hanaway said the “event contracts” constitute unlicensed sports betting under Missouri law.
The cease-and-desist letters were sent to Polymarket, Kalshi, Crypto.com, Novig, Underdog and Robinhood.
“Missourians voted for a safe, well‑regulated sports wagering market that supports public education and addresses problem gambling. Companies cannot repackage sports bets as ‘event contracts’ to avoid Missouri law. We will enforce the rules voters approved and protect consumers,” Hanaway said Friday. “Any company that wants to offer sports wagering in Missouri must be licensed by the Missouri Gaming Commission, pay the required taxes and fees, and ensure no one under 21 can place a bet.”
On Your Side: Gambling addiction expert says prediction markets put young Missourians at risk; Missouri attorney general takes action
JEFFERSON CITY, Mo. (KY3) – Missouri’s top cop is going after prediction markets.
Missouri Attorney General Catherine Hanaway has sent cease-and-desist letters to six prediction market companies, accusing them of operating illegal sports betting.
The letters went to Polymarket, Kalshi, Crypto.com, Novig, Underdog and Robinhood. Hanaway said the companies are facilitating sports “event contracts” that constitute unlicensed sports wagering under Missouri law.
An addiction expert says the way prediction markets are so readily available to young people is putting vulnerable Missourians at risk of gambling addiction.
Hanaway said Missouri voters approved a regulated sports wagering market that supports public education and addresses problem gambling.
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