Missouri Hits Polymarket and Kalshi With Cease-and-Desist Orders

Missouri Attorney General Catherine Hanaway stressed that prediction markets could not label sports bets as event contracts to skirt law compliance. The state sent letters to Polymarket, Kalshi, Crypto.com, Novig, Underdog, and Robinhood calling on them to stop offering these products to Missourians or face enforcement actions. Missouri Attorney General Catherine Hanaway announced that her office sent cease-and-desist letters to several companies operating platforms that let Missourians access these sports event contracts—elements that her office considers illegal under state law.