Louisiana judge orders sweeping restraining order against Kalshi, Polymarket, Coinbase, and other prediction market operators

Louisiana's crackdown highlights the legal challenges facing prediction markets in states with strict gaming laws. The ex parte temporary restraining order prohibits the companies from operating, listing, accepting, settling, brokering or otherwise facilitating event contracts involving Louisiana residents. It also bars them from accepting wagers or allowing market access to people in the state, requires them to block Louisiana users through geofencing, and prohibits representations that their offerings are lawful, licensed or authorized under state law. The defendants include operators such as Crypto.com, Novig, Underdog, ForecastEx, IG Group, Gemini and ProphetX, alongside Kalshi, Polymarket, Robinhood and Coinbase .