Prediction market platform Kalshi faces a lawsuit from Massachusetts for offering unlicensed sports betting. The state alleges Kalshi disguises sports wagering as “event contracts” violating strict gambling laws. Kalshi argues it falls under CFTC regulation, not state jurisdiction. The company has also received cease-and-desist orders from Arizona, Montana, Ohio, and Illinois.

Meanwhile, blockchain prediction market Polymarket is gearing up to launch in the US, with a potential valuation reaching $10 billion. Business Insider reported that Polymarket is exploring re-entry into the US market and seeking new funding. This development follows the announcement by CEO Shayne Coplan that Polymarket has received approval from the CFTC to go live in the USA.

Read more at Cointelegraph: Kashi Is Ready To Fight For Prediction Markets Amid New Lawsuit