{"url":"https://newsforagent.com/news/2026-11-12/louisiana-sues-kalshi-polymarket-prediction-markets","markdown_url":"https://newsforagent.com/news/2026-11-12/louisiana-sues-kalshi-polymarket-prediction-markets.md","title":"Kalshi Sued by Louisiana Over Prediction Markets","headline":"Louisiana Attorney General Sues Kalshi, Polymarket and Three Others Over Event Contracts","description":"Louisiana Attorney General Liz Murrill sued Kalshi, Polymarket, Robinhood, Coinbase and Gemini on November 12, 2026.","section":"Legal & Disputes","published_at":"2026-11-12T20:00:55+00:00","modified_at":"2026-11-12T20:00:55+00:00","author":"News Desk","key_takeaways":["Louisiana Attorney General Liz Murrill filed a state lawsuit on November 12, 2026, against Kalshi, Polymarket, Robinhood, Coinbase and Gemini over event contracts tied to sports, awards and elections.","Kalshi filed a preemptive federal suit on October 23, 2026, in the Western District of Louisiana, arguing the Commodity Exchange Act preempts state gambling law.","Kalshi raised a $1 billion Series G on October 29, 2026, led by Sequoia Capital and Wellington Management, according to akta.pro funding records."],"companies":[{"name":"Kalshi","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00000b2/kalshi","website":"https://kalshi.com"},{"name":"Polymarket","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0000009/polymarket","website":"https://polymarket.com"},{"name":"Robinhood","is_primary":false,"profile_url":"https://akta.pro/company-profiles/00000k7/robinhood","website":"https://www.robinhood.com"}],"source":{"publisher":"Crypto Briefing","title":"Louisiana AG sues Kalshi, Polymarket, Robinhood, Coinbase, and Gemini over prediction markets","url":"https://cryptobriefing.com/louisiana-ag-sues-kalshi-robinhood-coinbase-gemini/"},"other_sources":[],"tags":["Legal & Disputes","Kalshi","Polymarket","Robinhood"],"body_markdown":"Louisiana Attorney General Liz Murrill sued Kalshi, Polymarket, [Robinhood](https://akta.pro/company-profiles/00000k7/robinhood), Coinbase and Gemini on November 12, 2026, alleging the platforms run illegal sports and election betting under state law. [Crypto Briefing](https://cryptobriefing.com/louisiana-ag-sues-kalshi-robinhood-coinbase-gemini/) reported the state-court filing, which seeks a temporary restraining order and an injunction against the event contracts.\n\n## Louisiana's Case Against Five Prediction Market Platforms\n\nThe suit targets event contracts tied to sports, awards and elections. Murrill said prediction markets could let people wager on a wide range of subjects. The filing treats two dedicated prediction-market operators, a retail brokerage and two crypto exchanges as participants in the same activity.\n\n[Kalshi](https://akta.pro/company-profiles/00000b2/kalshi) filed a preemptive federal suit on October 23, 2026, in the Western District of Louisiana, and has asked a court for an emergency order against the state. [Polymarket](https://akta.pro/company-profiles/0000009/polymarket) has also filed in federal court. Both argue the Commodity Exchange Act preempts state law, and both point to regulatory changes in effect since August 2026. No final rulings had resolved any of the Louisiana cases as of November 12, 2026.\n\nPolymarket laid off staff and severed ties with contractors in a company-wide reduction in force, Bloomberg reported on November 11, 2026, describing stumbles that left the company lagging its main rival. Kalshi ended its advisory contract with Donald Trump Jr. after his venture capital firm, 1789 Capital, increased its stake in Polymarket, Investing.com reported on November 12, 2026.\n\n## Kalshi's Funding and Trading Scale\n\nKalshi is a CFTC-regulated prediction market exchange founded in 2018 that lets retail traders, institutional desks and brokerage partners trade event contracts and perpetual futures on real-world outcomes across sports, elections, economics and crypto, according to akta.pro [company records](https://akta.pro/company-data). The same records list a $1 billion Series G on October 29, 2026, led by Sequoia Capital and Wellington Management, and total funding of $5.9 billion. Kalshi reported $263.5 million in fee revenue for 2025.\n\n## Earlier Moves Before the Louisiana Filing\n\nKalshi registered as a New Mexico lobbyist employer in late August, ahead of the January 19 legislative session, but had not hired a local lobbyist or spent money on lobbying, Yahoo reported on November 10, 2026. The Commodity Futures Trading Commission warned Kalshi of potentially imminent charges over failing to notify the agency about dozens of new products, MarketScreener reported on November 10, 2026. Kalshi opened a market on the 2027 Pro Football Hall of Fame ballot, with eight names above 70% odds, Si reported on November 11, 2026.\n\n## Dates Set in Louisiana and New Mexico\n\nLouisiana's request for a temporary restraining order and an injunction is pending, and Kalshi's emergency request awaits a response. New Mexico's legislative session begins January 19, 2027.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}