(AsiaGameHub) – Rhode Island Attorney General Peter F. Neronha asserts that event contracts are essentially the same as sports betting.
US.- Rhode Island Attorney General Peter F. Neronha has filed a lawsuit against Kalshi and Polymarket. He maintains there is no meaningful distinction between event contracts and sports wagering.
According to Neronha’s office, while the structure of event contracts might be technically different from a conventional sportsbook, they enable individuals to wager on sports results and athlete performances, making them fall under Rhode Island’s gambling regulations.
Neronha stated: “In this context, there is no real difference between sports betting and ‘events contracts’; Kalshi and Polymarket are aware of this, and so are we. The issue is that Rhode Island law strictly controls gambling for good cause, and we contend that Kalshi and Polymarket are circumventing our statutes. Consequently, Rhode Islanders are suffering the negative effects.
“As these private firms keep making enormous profits from the public, the state’s third-largest source of income is being harmed. This results in reduced funding for essential programs that benefit Rhode Island residents daily.”
He continued: “We insist that Kalshi and Polymarket cease operations, comply with our state laws, and surrender their profits. This legal action is the initial move to achieve that objective.”
Earlier this year, Washington Attorney General Nick Brown initiated legal proceedings against Kalshi, a move also taken by Arizona Attorney General Kris Mayes and Michigan Attorney General Dana Nessel.
In other news, Spanish regulators announced today that they are blocking Kalshi and Polymarket.
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