Connecticut's Department of Consumer Protection issued cease-and-desist orders to nine companies illegally operating prediction markets in the state. The platforms violated Connecticut gaming and unfair trade practices laws, according to the state.
The nine platforms ordered to halt operations are Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webl, Gemini, and Underdog Predict. All are prohibited from advertising, offering, or promoting sports event contracts or unlicensed online gambling to Connecticut residents. Each must allow Connecticut users to withdraw any funds currently held.
A sports prediction market is a peer-to-peer exchange where users buy and sell contracts betting on sports outcomes. According to the American Gaming Association, an estimated $40 billion will be wagered on NFL games using prediction markets this year. On the first day of the 2026 college football season, one prediction market recorded nearly $250 million in trading volume.
The department also issued nearly 30 subpoenas to gaming service providers, media outlets, and app stores. Connecticut law prohibits wagering on collegiate sports and restricts legal betting to those 21 and older. According to the state, the prediction markets accepted wagers from users under the legal betting age and from individuals on the state's voluntary self-exclusion list.
Connecticut has licensed three platforms to offer sports wagering: DraftKings at Foxwoods, FanDuel at Mohegan Sun, and Fanatics through Connecticut Lottery. Failure to comply with the cease-and-desist orders may result in civil penalties or criminal penalties under state gaming statutes.