Calci, a predictive market platform, has vowed to fight a new lawsuit from the state of Massachusetts, USA.
“We are proud to be a company ready to pioneer this technology and defend it again in court,” a spokesman for Karshi told Cointelgraf on Friday.
“The forecast market is a key innovation of the 21st century and should be accessible to all Americans,” Karshi added.
Karshi is ready to fight among other legal challenges
A civil lawsuit filed Friday by the state of Massachusetts in Suffolk County Superior Court alleges that Karshi disguised the sport as an “event contract” and violated the state’s strict gambling laws.
“Calci violates the federal strict sports betting laws and regulations by providing licensed sports betting to Massachusetts residents,” the proposal states.
Furthermore, as of May 2025, it claimed that more than three-quarters of calci’s trading volume came from sports. This is a larger share than industry giants Draft King and Fundeel, Filing said.
But a Calci spokesperson said Massachusetts regulators chose legal action rather than directly addressing the issue.
“As opposed to having a dialogue with Calci as many other states have done, Massachusetts is trying to block Calci innovation by resorting to outdated laws and ideas.”
Kalshi claims it is regulated by the CFTC
Karshi has previously argued that it is regulated at the federal level by the Commodity Futures Trade Commission (CFTC) and does not fall under the state’s gambling jurisdiction.
They have received suspension orders from other states, including Arizona, Montana, Ohio and Illinois.
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This is because blockchain-powered forecast market Polymake is reportedly preparing for launch in the US.
Citing a conversation-savvy source, Business Insider reported Friday that Polymarket is exploring re-entering the US, seeking new funding that more than tripled its June valuation of $1 billion. One investor valued the company at up to $10 billion.
It’s a few days after Polymarket CEO Shayne Coplan said in a September 4th X post, “Polymarket was given green light by the CFTC to live in America.”
“Looking out,” he added.
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