Overview

• Attorney General Andrea Joy Campbell filed suit in Suffolk Superior Court seeking to bar Kalshi from offering sports event contracts in Massachusetts without a license and to obtain monetary and injunctive relief.
• The complaint argues Kalshi’s binary options on games function like sportsbook wagers, compares the products to FanDuel, and alleges the platform is operating unlicensed sports betting.
• State filings say sports made up roughly 70%–75% of Kalshi’s trading volume in spring 2025, and cite a company figure that $439 million has been placed on NFL contracts to date.
• The lawsuit alleges consumer-protection gaps, saying Kalshi permits 18+ users where Massachusetts requires 21 for online sports betting and lacks required self-limiting tools such as deposit or wager caps.
• Kalshi says it runs a fair, transparent, federally regulated marketplace under CFTC self-certification and notes ongoing appellate fights, including this week’s Third Circuit arguments in its dispute with New Jersey.