Massachusetts Ruling Limits Kalshi's Sports Contracts
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
0mins
Source: seekingalpha
- Preliminary Injunction Ruling: Massachusetts Judge Christopher Barry-Smith ruled that Kalshi is prohibited from offering sports-related event contracts without the necessary license, which could significantly impact its business operations.
- State Action Deadline: The state must submit its proposed preliminary injunction by Wednesday, with a hearing scheduled for Friday where both parties will argue about the injunction, highlighting the urgency and complexity of the legal process.
- Increased Market Competition: This ruling not only affects Kalshi but may also have ripple effects on other prediction market platforms like Robinhood Markets and Polymarket, intensifying competition within the sports betting industry.
- Legal Challenges in Other States: In addition to Massachusetts, states like Tennessee, New York, and Nevada are also pursuing legal actions against prediction markets, indicating a rising regulatory pressure on the industry.
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Analyst Views on DKNG
Wall Street analysts forecast DKNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DKNG is 43.76 USD with a low forecast of 30.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
23 Buy
7 Hold
0 Sell
Strong Buy
Current: 30.110
Low
30.00
Averages
43.76
High
63.00
Current: 30.110
Low
30.00
Averages
43.76
High
63.00
About DKNG
DraftKings Inc. is a digital sports entertainment and gaming company. It provides users with online and retail sports betting (together, Sportsbook), online casino (iGaming) and daily fantasy sports product offerings, as well as digital lottery courier, media, and other product offerings. Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. It operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. It owns Jackpocket, a digital lottery courier app in the United States. It is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA. It also owns and operates DraftKings Network, a multi-platform content ecosystem.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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