Kentucky sues Kalshi and Polymarket (2 minute read) (opens in new tab)

Kentucky Attorney General Russell Coleman has filed lawsuits in Franklin Circuit Court against Kalshi and Polymarket, alleging they operate illegal gambling platforms in the state by letting users wager on game outcomes, point spreads, and player statistics without a state license. The companies' defense rests on CFTC federal preemption. Kalshi's spokesperson said "the CFTC is our regulator, not the states", making the case a direct test of whether state gambling law can reach federally regul...