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Wisconsin joins prediction market fight, suing Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com

Wisconsin joins prediction market fight, suing Kalshi, Coinbase, Polymarket, Robinhood and Crypto.com

Wisconsin has filed a lawsuit against Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, arguing their prediction markets resemble gambling rather than investing. The state's complaint, filed in April 2026, emphasizes the platforms' use of language that the authorities claim blurs the line between betting and financial trading, challenging the legality of their operations within Wisconsin.

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