CryptoNov 13, 2026, 1:42 AM UTC·1 min read

Louisiana sues Kalshi, Robinhood and other prediction markets

Louisiana has sued Kalshi, Robinhood and other prediction market platforms, becoming the latest state to pick a fight in a growing tangle with federal authorities.

A gavel resting next to a smartphone showing a prediction market trading app. — Image: The Block

Louisiana has sued Kalshi, Robinhood and other prediction market platforms. The state is the latest to take on the industry, and it is stepping into a legal fight that now pits states against the federal government.

Prediction markets are platforms where people trade on whether a real-world event will happen. Kalshi is one of the best-known names, and Robinhood, better known as a retail trading app, offers the product to its users as well. Both are named in the Louisiana suit, along with other platforms.

Why are states suing prediction markets?

The Louisiana case is part of a wider pushback. States have been moving against these platforms, while the federal government is on the other side of the dispute. That makes the argument as much about who gets to regulate prediction markets as about the platforms themselves.

The details of Louisiana's claims were not available to us, so we are not going to guess at them here. What is clear is the direction of travel: another state has chosen to go to court rather than wait for the federal question to be settled.

What happens next?

The companies named in the suit have yet to see the case play out, and the broader conflict between states and Washington remains open. For people who use Kalshi, Robinhood or similar services, the practical question is whether state-level action changes what those platforms can offer in their area. For now, Louisiana's lawsuit adds one more front to a fight that keeps growing.

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Tags:kalshirobinhoodprediction marketslouisianaregulation