News · Regulation & Policy
Attorney General Catherine Hanaway issued cease-and-desist letters to Polymarket, Kalshi, Robinhood, and three others for facilitating unlicensed sports event contracts.
Key point 1 of 3
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Missouri sent cease-and-desist letters to Polymarket, Kalshi, Crypto.com, Robinhood, Novig, and Underdog over unlicensed sports event contracts.
Key point 2 of 3
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State regulators rejected claims that sports event contracts are federally regulated swaps under the Commodity Exchange Act.
Key point 3 of 3
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Missouri's legal sports betting framework imposes a 10% gross receipts tax and requires licensing via the Missouri Gaming Commission.
Context
Missouri voters legalized sports betting under Amendment 2 in 2024, creating an official market launch on Dec. 1, 2025 overseen by the Missouri Gaming Commission.
Why it matters
Six retail prediction and trading operators face state enforcement and potential legal action unless they halt sports offerings in Missouri or obtain licenses.
What to watch
Potential formal legal enforcement filings from the Missouri Attorney General's Office if operators continue serving state residents.
Sources
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