Louisiana targets prediction markets in sweeping lawsuit
By Brie CarterKey points
- Louisiana Attorney General Liz Murrill has sued 10 prediction-market platforms over alleged violations of state gambling laws.
- The lawsuit targets Kalshi, Robinhood, Polymarket, Coinbase, Crypto.com and other operators.
- Louisiana is the 11th state to sue prediction-market companies, escalating disputes over state and federal regulatory authority.
Louisiana Attorney General Liz Murrill has sued 10 prediction-market platforms over alleged violations of state gambling laws.
The lawsuit targets Kalshi, Robinhood Markets (NASDAQ:HOOD), Polymarket, Coinbase Global (NASDAQ:COIN) and six other operators.
“For too long, they have violated our laws with impunity,” said Louisiana Attorney General Liz Murrill in a post on X.
Murrill is seeking an immediate restraining order and injunction to prevent the platforms from operating unlawfully in Louisiana.
The dispute centres on event contracts covering sports, elections and other outcomes, which Louisiana considers illegal gambling.
The platforms argue that the Commodity Futures Trading Commission (CFTC) holds federal authority over their event contracts.
Louisiana becomes the 11th state to sue prediction-market operators, as companies challenge state restrictions through federal courts.
The lawsuit adds pressure to the unresolved regulatory battle over whether states or federal authorities control prediction markets.
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