Here and Now
Wisconsin Files Suit Against Prediction Market Businesses
Clip: Season 2400 Episode 2441 | 59sVideo has Closed Captions
Wisconsin is suing prediction markets for serving as platforms for illegal sports betting.
Wisconsin is suing Kalshi, Robinhood, Coinbase, Polymarket and Crypto.com, with state Attorney General Josh Kaul arguing such prediction market companies serve as platforms for illegal sports betting.
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Here and Now is a local public television program presented by PBS Wisconsin
Here and Now
Wisconsin Files Suit Against Prediction Market Businesses
Clip: Season 2400 Episode 2441 | 59sVideo has Closed Captions
Wisconsin is suing Kalshi, Robinhood, Coinbase, Polymarket and Crypto.com, with state Attorney General Josh Kaul arguing such prediction market companies serve as platforms for illegal sports betting.
Problems playing video? | Closed Captioning Feedback
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TJ Semanchin, thanks very much.
>> The burgeoning interest in sports related prediction markets over the last few years has led to platforms like Kalshi and Polymarket to trade in billions of dollars annually and wanting to cash in on Wisconsin customers.
But State Attorney General Josh Carl this week filed a lawsuit against these and other similar platforms, saying they may use new terminology, but they are still violating Wisconsin gambling laws.
>> The platforms where this is taking place are known as prediction markets.
And what we allege is that the way these companies have framed this is that you can, on those prediction markets, purchase what they what they call an event contract.
And what we allege here is that the the event contracts on sporting events are indistinguishable legally or practically for that
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