Baltimore has sued prediction market operators Kalshi and Polymarket, accusing them of running unlicensed sportsbooks. Mayor Brandon Scott and the City Council filed complaints in Circuit Court, arguing that these platforms offer products identical to licensed sportsbooks. The city seeks an injunction blocking transactions from residents and civil penalties of up to $1,000 per violation per day. The Financial Times reported that JPMorgan ended its banking relationship with Polymarket last year amid regulatory concerns. Other jurisdictions including Kentucky, Wisconsin, and Nevada have also taken legal action against these platforms.
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