Massachusetts Attorney General Files Lawsuit Against KalshiEX LLC
- The Massachusetts Attorney General’s Office has sued KalshiEX LLC for operating without a license from the Massachusetts Gaming Commission (MGC).
- Over 75% of trades on Kalshi involve contracts that are classified as sports bets under state law.
- Kalshi allows users aged 18 and above, while the legal betting age in Massachusetts is set at 21.
- The platform reportedly lacks responsible gaming practices, such as deposit limits and self-exclusion programs.
This lawsuit emphasizes the ongoing regulatory challenges faced by platforms operating within the cryptocurrency and betting sectors, particularly as they navigate complex legal frameworks.
With over three-quarters of its trades involving sports contracts, Kalshi’s operations raise significant compliance concerns that could influence future regulations in Massachusetts and beyond.
