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Connecticut Orders Kalshi, Robinhood, Crypto.com to Cease Sports Betting Operations

2025.12.04 08:09:50

On December 4, CoinDesk reported that Connecticut has launched legal action targeting the sports event contract space, issuing cease-and-desist orders Wednesday to three major prediction market operators—Robinhood, Kalshi, and Crypto.com. The state’s Department of Consumer Protection accuses the firms of engaging in unlicensed sports betting. Per the state government’s notice, the companies are “hereby ordered to immediately cease and desist from advertising, offering, promoting, or otherwise providing contracts or other forms of unlicensed online gambling to Connecticut residents.” Robinhood responded Wednesday, arguing the company is overseen by the U.S. federal government.
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