Baltimore City sued prediction market Kalshi, alleging gambling law violations and deceptive trade practices. The complaint also named Robinhood, Webull, and Coinbase as partners, linking them to the controversial betting activities.
Baltimore City has taken legal action against Kalshi, a platform for prediction markets. Prediction markets allow users to bet on the outcome of future events, similar to traditional sports betting. The city's lawsuit claims Kalshi violated local gambling laws and engaged in deceptive trade practices. The complaint also includes well-known trading platforms like Robinhood, Webull, and Coinbase. These companies are identified as partners working with Kalshi, further drawing them into the legal dispute. This case highlights ongoing concerns about how prediction markets operate within existing regulations.
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