RI sues Kalshi and Polymarket over unlawful sports betting operations
Rhode Island Attorney General Peter Neronha sued prediction markets Kalshi Inc. and Polymarket in RI Superior Court, claiming their sports-event contracts violate state gambling laws. Kalshi preemptively filed in U.S. District Court (D.R.I.), arguing its event contracts are federally-regulated financial derivatives under CFTC oversight, not state gambling jurisdiction. The dueling lawsuits join similar battles in Massachusetts and other states over prediction-market sports wagering.

