Wisconsin sues prediction market platforms over alleged illegal sports betting operations

Wisconsin has filed a civil complaint in Dane County Circuit Court accusing Kalshi, Robinhood, and Coinbase, along with affiliated subsidiaries, of operating what it describes as illegal sports betting through prediction markets and event contracts under state law. The complaint opens by reaffirming the state’s gambling restrictions, stating: “Sports betting has long been illegal in Wisconsin, with exceptions only for certain Native American tribal gaming operations.” It further alleges coordina