Connecticut has issued cease-and-desist orders to Kalshi, Robinhood, and Crypto.com, accusing them of conducting unlicensed online sports betting. The state's Department of Consumer Protection alleges these companies are offering sports wagering contracts to residents without the necessary state licenses. Robinhood has defended its operations, stating that its event contracts are regulated by the Commodity Futures Trading Commission (CFTC), while Kalshi and Crypto.com have yet to respond.
The state has identified Draft Kings, FanDuel, and Fanatics as the only entities authorized to offer sports betting in Connecticut. Companies failing to comply with the order may face civil or criminal penalties, underscoring the state's strict enforcement of its gambling regulations.
Connecticut Halts Unlicensed Sports Betting by Kalshi, Robinhood, and Crypto.com
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