BALTIMORE SUES KALSHI AND POLYMARKET, ROPING IN OTHERS

Summary from the TLDR Crypto newsletter

Baltimore filed consumer-protection lawsuits against Kalshi and Polymarket alleging their sports-event contracts are unlicensed gambling. The Kalshi suit also names distribution partners Coinbase, Robinhood, and Webull for offering Kalshi contracts through their own apps. The Polymarket suit separately alleges the platform blurs prediction-market and sportsbook lines through an internal market-making team that can trade against users. The city seeks penalties, restitution, and an injunction. Kalshi says it will fight the claims, calling itself a regulated, transparent marketplace.