Missouri Hits Polymarket and Kalshi With Cease-and-Desist Orders

Crypto Insight Summary: Missouri Attorney General Catherine Hanaway stressed that prediction markets could not label sports bets as event contracts to skirt law compliance. The state sent letters to Polymarket, Kalshi, Crypto.com, Novig, Underdog, and Robinhood calling on them to stop offering these products to Missourians or face enforcement actions. Missouri Sends Cease-and-Desist Letters to Prediction Market Platforms […] Crypto Insight Analysis: Direction: Bearish POLYX / Bearish KAL Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Regulatory pressure on prediction markets may reduce user trust and trading volumes for related tokens.