Missouri orders prediction markets to stop; Kalshi says it isn’t a sportsbook

St. LouisSt. Louis Public Radio · Oct 5, 2026

Missouri orders prediction markets to stop; Kalshi says it isn’t a sportsbook

AG Catherine Hanaway sent cease-and-desist orders to Kalshi, Polymarket and others; Kalshi’s research head made its case on STLPR.

Missouri Attorney General Catherine Hanaway has ordered Kalshi, Polymarket, Underdog, Robinhood, Crypto.com and Novig to cease and desist operating in Missouri, saying sports “event contracts” are bets that require a Missouri Gaming Commission license, St. Louis Public Radio reports.

On STLPR’s Politically Speaking Hour, Kalshi head of research Nicole Kagan said prediction markets are peer-to-peer exchanges that don’t profit when users lose, unlike sportsbooks, and that Kalshi bars insiders such as campaign staff and team members from trading on related outcomes. STLPR notes scrutiny is growing in Illinois as well.

Source: St. Louis Public Radio

Paraphrased for the Oct 6, 2026 Tuesday morning digest. Read the original at the source link. Not affiliated with the newsroom.