Connecticut Takes Action Against Unlicensed Sports Betting by Kalshi, Robinhood, and Crypto.com
Connecticut's Regulatory Action: Connecticut has ordered Kalshi, Robinhood, and Crypto.com to cease offering unlicensed sports event contracts, citing violations of state gaming laws and lack of necessary consumer protections.
Legal Challenges from Companies: Kalshi has filed a lawsuit against the state, arguing that its markets should not be classified as illegal gambling, while Robinhood defends its operations under CFTC oversight; Crypto.com has not yet responded.
Concerns Over Consumer Protection: The Connecticut Department of Consumer Protection highlighted risks associated with the platforms, including inadequate age verification and potential insider knowledge of event outcomes.
Broader Implications for Prediction Markets: This action adds to a growing trend of regulatory scrutiny on prediction markets across various states, potentially influencing the future landscape of event trading and sports betting.
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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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