Six prediction market platforms have been ordered to stop offering sports event contracts to Missourians or face enforcement action from the state
Missouri Attorney General Catherine Hanaway has issued cease-and-desist letters to six of the leading prediction market operators offering sports event contracts to Missourians.
The Attorney General’s Office has sent cease-and-desist letters to Polymarket, Kalshi, Crypto.com, Novig, Underdog, and Robinhood, arguing that these event contracts constitute unlicensed sports wagering under Missouri law.
The AG said that federal law does not pre-empt state law in this area, and that sports event contracts do not qualify as “swaps” governed by the federal Commodity Exchange Act, as frequently claimed by illegal online sportsbooks.
“Missourians voted for a safe, well‑regulated sports wagering market that supports public education and addresses problem gambling,” said AG Hanaway. “Companies cannot repackage sports bets as ‘event contracts’ to avoid Missouri law. We will enforce the rules voters approved and protect consumers.
“Any company that wants to offer sports wagering in Missouri must be licensed by the Missouri Gaming Commission, pay the required taxes and fees, and ensure no one under 21 can place a bet.”
In 2024, Missourians approved Amendment 2 to legalize and regulate sports betting, placing oversight with the Missouri Gaming Commission, and launching the market on 1 December 2025.
Missouri’s voter-approved framework requires robust age verification to ensure no one under 21 can place a sports wager, with the Attorney General’s Office pointing out that Polymarket, Kalshi, Crypto.com, Underdog, and Robinhood either permit underage users to access their products or lack adequate safeguards to prevent Missourians under 21 from participating in sports wagering.
AG Hanaway calls on Polymarket, Kalshi, Crypto.com, Novig, Underdog, and Robinhood to comply with Missouri law without delay and to cease and desist from offering sports event contracts to Missourians unless and until they are licensed by the Missouri Gaming Commission.
Failure to comply will result in enforcement action by the state.