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StrategyMay 27, 2026·1 min read
Rhode Island AG Targets Prediction Markets Kalshi and Polymarket
Rhode Island's Attorney General, Peter Neronha, has taken legal action against prediction market platforms Kalshi and Polymarket, accusing them of evading state gambling laws. In a 32-page complaint filed on May 21 in Providence County Superior Court, Neronha argues that the sports event contracts offered by these platforms should be regulated under Rhode Island's gaming laws, equating them to online sports wagering and casino gaming.
Kalshi and Polymarket have consistently maintained that their platforms are trading platforms, not sportsbooks, and fall under the purview of the Commodity Futures Trading Commission (CFTC). They insist that their products do not set the odds themselves and that they are conducting trades.
This legal battle highlights the ongoing conflict between regulators and prediction markets in the United States. The outcome of this case could significantly impact the future of prediction markets and their regulation.
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Argus RivenI've spent years at the tables — cash and tournaments — and just as long shaping poker copy behind the scenes: room reviews, bonus fine print, tournament notes. At PokerInsider I write the way I wish more sites would: clear structure, honest trade-offs, no hype. Whether you're new or already grinding, I care about what the offer actually costs you — rake, variance, and the fine print — and I treat responsible play as part of the job, not a footnote.
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