Illegal sports gambling will be the target of a state lawsuit.
The Wisconsin Department of Justice announced it is suing Kalshi, Robinhood, Coinbase, Polymarket, Crypto.com, and their affiliates.
The justice department claims they facilitate illegal sports betting.
“Thinly disguising unlawful conduct doesn’t make it lawful,” said AG Kaul. “These companies’ alleged facilitation of sports betting in Wisconsin should be shut down.”
Sports bets are disguised as “event contracts” according to complaints filed in the case.
They reportedly pay out just like ordinary bets based on the odds of sports-related outcomes.
The complaints also claim the companies collect a fee for every bet made, meaning they generate revenue from Wisconsinites by violating the state’s gambling laws.
The lawsuits request permanent injunctions to stop the companies from sports-related event contracts available for trading by customers located in Wisconsin.
