Connecticut To Prediction Markets: “Nice Derivatives, Shame They’re Just Sports Bets”
🚫 Connecticut basically told Kalshi, Robinhood and Crypto.com that their fancy “sports event contracts” are just unlicensed gambling with extra steps - and hit them with stop orders.
🎲 Moral of the story: you can call it a prediction market, a perp, or a synthetic future, but if it smells like betting on the game, the gaming regulator is going to treat it like betting on the game.