Judge Issues Preliminary Injunction Against Kaishi in Massachusetts
- Suffolk County Superior Court Judge Christopher Barry-Smith ruled that Kaishi cannot operate without a license.
- The ruling follows a lawsuit filed by Massachusetts Attorney General Andrea Joy Campbell in September.
- Kaishi was accused of offering sports betting products to individuals as young as 18 without proper licensing.
- Barry-Smith emphasized the importance of oversight for public health and financial interests in sports wagering.
The judge’s decision mandates that Kaishi comply with Massachusetts’ sports wagering laws, which require operators to be licensed. The platform argues that its offerings fall under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC) rather than state gaming laws.
This ruling highlights the regulatory challenges faced by online platforms in the evolving landscape of DeFi and sports betting. The outcome could set a precedent for how such platforms operate within state regulations. (Source)
