tldr; Connecticut’s Department of Consumer Protection has ordered Robinhood, Crypto.com, and Kalshi to cease operations in the state, citing unlicensed online sports gambling. The platforms were directed to stop offering sports event contracts to Connecticut residents and allow fund withdrawals. The state emphasized that only licensed entities can offer sports wagering, and these platforms do not meet the requirements. This action highlights ongoing debates over regulating app-based prediction markets as gambling or derivatives under federal law.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Every_Hunt_160 on
They won’t stop because of the money to be made, GREED !!
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tldr; Connecticut’s Department of Consumer Protection has ordered Robinhood, Crypto.com, and Kalshi to cease operations in the state, citing unlicensed online sports gambling. The platforms were directed to stop offering sports event contracts to Connecticut residents and allow fund withdrawals. The state emphasized that only licensed entities can offer sports wagering, and these platforms do not meet the requirements. This action highlights ongoing debates over regulating app-based prediction markets as gambling or derivatives under federal law.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
They won’t stop because of the money to be made, GREED !!