Regulation· ★★★· neutral·

Gemini, ProphetX, WeBull Restrict Trading in Connecticut

  • —Gemini, ProphetX and WeBull halted sports prediction markets in Connecticut
  • —CDCP sent cease-and-desist letters to nine exchanges in September over gambling law violations
  • —Kalshi is appealing a Connecticut district court's denial of a preliminary injunction to the Second Circuit
  • —The CFTC and DOJ have sued Connecticut on federal preemption grounds
Why it matters: Court rulings will determine whether prediction markets can operate in states that regulate them as gambling.
Source: DeFi Rate