Massachusetts judge proposes to ban Kalshi from offering sports prediction contracts

Massachusetts Superior Court Judge Christopher Barry-Smith stated that a temporary injunction will be issued, requiring the prediction market platform Kalshi to cease offering sports-related event contracts in the state without a Sports Betting Act license. The judge agreed with the state government's view that Kalshi's sports prediction contracts may violate state sports betting regulations. The state government is required to submit an injunction proposal that does not affect existing contracts. Kalshi subsequently responded that the court is expected to formally order the suspension of related business by the end of this week, but it can still apply for an extension or stay of execution. Last September, the state's Attorney General sued Kalshi, alleging that its binary contracts were in violation of regulations.