Connecticut Regulators Issue Cease-and-Desist to Robinhood, Crypto.com, and Kalshi Over Alleged Unlicensed Sports Betting

Connecticut regulators have issued cease-and-desist orders to Robinhood, Crypto.com, and Kalshi, halting their operations for offering unlicensed sports event contracts, classified as illegal online sports gambling to state residents. Users must withdraw funds, with penalties for noncompliance under state gaming laws. Connecticut Department of Consumer Protection targets unlicensed platforms: Robinhood, Crypto.com, and Kalshi face immediate [...]