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Connecticut Regulators Target Robinhood, Kalshi, and Crypto.com Over Unlicensed Sports Betting
Connecticut Regulators Target Robinhood, Kalshi, and Crypto.com Over Unlicensed Sports Betting
BTCCSquare news:
Connecticut regulators escalated enforcement against unlicensed gambling platforms, issuing cease-and-desist orders to Robinhood, Kalshi, and Crypto.com. The state alleges these platforms offer illegal "sports events contracts" without proper licensing, exposing users to financial and data risks.
Prediction markets face mounting scrutiny as unregulated platforms bypass consumer protections. Polymarket’s U.S. relaunch highlights sector competition despite legal pressures on sports-related contracts.
"Only licensed entities may offer sports wagering in Connecticut," stated DCP Commissioner Bryan T. Cafferelli. The crackdown reflects broader concerns over deceptive advertising and regulatory gaps in emerging betting markets.
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