Connecticut Directs Kalshi, Robinhood, and Crypto.com to Suspend Sports Contracts Due to Gambling Regulations
Connecticut's Regulatory Action: Connecticut regulators have issued cease and desist orders to Kalshi, Robinhood, and Crypto.com, classifying their sports prediction contracts as unlicensed gambling and requiring them to halt access for state residents.
Consumer Protection Concerns: The Connecticut Department of Consumer Protection cited the lack of state gaming licenses, risks of underage gambling, and absence of consumer protections as reasons for the enforcement action.
Legal Challenges and Industry Response: Kalshi has filed a lawsuit against the state order, claiming it operates under federal regulations, while Robinhood and Crypto.com are facing similar regulatory pressures in other states and have adjusted their offerings accordingly.
Growing National Scrutiny: The enforcement in Connecticut reflects a broader trend of increasing scrutiny and regulatory actions against unlicensed prediction markets across the United States.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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