Polymarket · Coinbase · CME Group · The Block
While the city filed separate complaints against Kalshi and Polymarket, the Kalshi case is a bit broader
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Baltimore alleges the three partnered platforms offer Kalshi event contracts directly through their respective prediction market segments, allowing users to trade sports contracts without leaving the Coinbase, Robinhood or Webull apps.
Key facts
- The Polymarket complaint names QCX LLC, Blockratize Inc. and QC Tech LLC, which the city collectively refers to as Polymarket
- Mayor Brandon Scott and the Baltimore City Council filed the lawsuits Thursday in Baltimore City Circuit Court
- People use regulated prediction markets like Robinhood, Kalshi and CME because they’re neutral, fair and transparent marketplaces," the spokesperson told The Block
- The city contends that Kalshi and Polymarket offer the same kinds of wagers as licensed sportsbooks, including game winners, point spreads and player performance contracts
Summary
Baltimore, the most populous city in Maryland, has sued prediction market operators Kalshi and Polymarket over allegations that their sports-event contracts amount to illegal gambling, with the city's case against Kalshi also pulling its distribution partners Coinbase, Robinhood and Webull into the mix. Mayor Brandon Scott and the Baltimore City Council filed the lawsuits Thursday in Baltimore City Circuit Court. The city contends that Kalshi and Polymarket offer the same kinds of wagers as licensed sportsbooks, including game winners, point spreads and player performance contracts. "These companies are running sportsbooks without licenses and betting that a new label will put them above the law," Scott said. While the city filed separate complaints against Kalshi and Polymarket, the Kalshi case is a bit broader.