Massachusetts Judge Christopher Barry-Smith ruled Tuesday that the state has the right to ban prediction market Kalshi from offering sports betting services within its borders. The ban could take effect as early as this Friday and, if successfully enforced, would be the first of its kind in the nation. The judge stated in his ruling that any company wishing to operate a sports betting business in Massachusetts must comply with state law, including obtaining the necessary licenses from the Massachusetts Gaming Commission (MGC). Kalshi had previously argued that it was regulated by the Commodity Futures Trading Commission (CFTC) and therefore the state had no right to interfere, but the judge rejected this argument. Kalshi began offering sports betting services in January 2025, and by May of that year, sports betting accounted for 70% of its total revenue. (DLnews)