Louisiana Sues Multiple Prediction Market Platforms, Involvi
On November 12, 2026, Louisiana Attorney General Liz Murrill posted on X that she had sued Kalshi, Polymarket and several other platforms, accusing them of violating gambling and sports betting laws with their event contracts. The defendants include Robinhood, Coinbase, Gemini, Crypto.com and others; Kalshi and Polymarket had previously sued the state's officials in federal court.
Event Timeline
- [11-12 21:32] Louisiana sues Kalshi, Polymarket, Coinbase and other prediction market platforms (PANews)
- [11-12 21:34] Louisiana sues Kalshi, Polymarket, Coinbase and other prediction market platforms (Odaily)
Background and Impact
On November 12, 2026, Louisiana Attorney General Liz Murrill posted on X that she had filed a lawsuit in state court accusing Kalshi, Polymarket and several other platforms of illegal online gambling. According to local media reports, the list of defendants includes Robinhood, Coinbase, Gemini, Crypto.com and other institutions. The state argues that the design of these platforms' event contracts constitutes gambling and violates relevant state laws. Previously, Kalshi and Polymarket had filed counterclaims against Louisiana officials in federal court, accusing them of overregulation. The lawsuit seeks an immediate restraining order and injunction from the court, but does not specify concrete measures. Louisiana law defines gambling as wagering on chance events for the purpose of winning or losing money, while prediction markets allow users to bet on specific events through event contracts; the two sides hold a fundamental disagreement over compliance. The state emphasizes the legal risks of event contracts, while the defendants argue that their business model complies with federal regulations. The lawsuit may prompt further discussion of the regulatory framework for prediction markets, but there are currently no specific enforcement details. If the restraining order takes effect, the relevant exchanges would need to adjust their contract designs or face the risk of business restrictions, though the specific scope of impact was not mentioned. Some platforms, such as Coinbase and Gemini, have publicly responded, saying they will cooperate with legal proceedings and protect user rights.
FAQ
### Which exchanges were sued?
The defendants include Kalshi, Polymarket, Robinhood, Coinbase, Gemini, Crypto.com and other platforms; the specific list is subject to court documents.
### What are the subsequent legal steps?
The lawsuit seeks an immediate restraining order and injunction from the court, but the outcome of the court's proceedings must be awaited, possibly involving hearings and a final ruling.
### How should users respond to regulatory changes?
It is advisable to follow announcements from the relevant platforms and regulatory developments; if the restraining order takes effect, users may need to adjust trading strategies or move to other compliant exchanges.