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U.S. Government Sues Illinois Over Orders Against Kalshi and Polymarket

The dispute follows cease-and-desist letters issued by Illinois to prediction markets Kalshi and Polymarket, according to the source.

Summary

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Terms & Concepts
  • Prediction market: A platform where users trade on the outcome of future events, often using market prices to reflect probabilities.
  • Cease-and-desist letter: A formal notice demanding that a person or company stop a specified activity, often before further legal action.
  • Polymarket: A crypto-linked prediction market platform where users take positions on event outcomes.