Trump administration sues three states over attempts to regulate prediction markets

An app for Kalshi, an online prediction market site, is shown on a phone. Multiple states have tried to block the company from operating, citing state gambling laws. But the federal government has sued to block those state laws to allow Kalshi and other prediction markets to operate.

The suits are the most ambitious effort to date that the Trump administration has gone to try to override state laws and set the rules for the fast-growing and increasingly divisive betting industry.

(Image credit: Scott Olson)