Five Prediction Market Platforms Hit With Lawsuit From Louisiana’s Attorney General

Louisiana's attorney general has filed a lawsuit targeting five major trading platforms over their prediction market products. The named defendants are Kalshi, Polymarket, Robinhood, Coinbase and Gemini, according to reports from CryptoBriefing and The Block. The filing represents one of the broadest legal actions yet against the prediction market sector. Rather than targeting a single company, Louisiana's complaint spans platforms with very different core businesses, from a regulated derivatives exchange to crypto brokerages and a retail trading app. Prediction markets let users trade contracts tied to the outcome of real-world events, including elections, economic data releases and sports results.