Webull is ending sports event contracts for Connecticut residents. In a customer notice reported by the New Haven Register, the broker told users holding open sports positions to “liquidate those positions no later than 11:59 p.m. ET on Saturday, October 31, 2026”, RG reports. Webull’s event contract help page now lists Connecticut with Nevada, Maryland and Michigan as states where sports contracts are not available.
Webull is one of nine platforms that received a cease-and-desist order from Connecticut’s Department of Consumer Protection in September. According to the Register, ProphetX and Gemini have also agreed in recent weeks to stop offering sports contracts in the state.
What Connecticut ordered
The governor’s office announced on 10 September that orders went to Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini and Underdog Predict. They tell each platform to stop advertising, offering or promoting sports event contracts or any other unlicensed online gambling to Connecticut residents, and to let residents withdraw their funds. The state alleges the platforms took bets from people under 21 and on the self-exclusion list, and offered contracts on Connecticut college sports, which state law bans.
The department also issued subpoenas to nine gaming service licensees, including PayPal, Plaid, Sportradar and Genius Sports, to 15 media organisations and to five app stores and payment firms such as Apple, Google Play and Stripe. The state says those recipients are not under investigation. Failure to comply with the orders may bring civil penalties under the Connecticut Unfair Trade Practices Act or criminal penalties.
Ads and courts
Google’s advertising policy update bans ads for prediction market contracts in Connecticut from 7 October. Not every platform accepts the state’s view: Robinhood told the Register its event contracts are federally regulated by the CFTC, and Coinbase has appealed its Connecticut case to the Second Circuit. Kalshi’s own challenge to Connecticut is also before that court after a federal judge denied it a preliminary injunction in August.
Key facts
Webull deadline: 11:59 p.m. ET, 31 Oct 2026 (04:59 CET on 1 Nov), sports contracts only.
Regulator: Connecticut Department of Consumer Protection.
Orders: 9 cease-and-desist orders, announced 10 Sep 2026.
Subpoenas: 29 (9 licensees, 15 media, 5 app stores and payment firms).
Google ads: prediction market ads banned in Connecticut from 7 Oct 2026.
Why it matters for GambleFi
Connecticut is using the same toolkit as Ohio, which told its licensees to cut prediction market ties, and New York, which is asking a court to enforce its Kalshi subpoenas: pressure on suppliers, payment firms and advertisers, not only on the exchanges. Webull is not stepping back from Kalshi-linked products elsewhere: it still plans to offer Kalshi-listed perpetual futures from November. State rules like Connecticut’s also shape where onchain betting exchanges such as SX Bet and other iGaming token platforms can operate. Our GambleFi FAQ covers the basics. This is a news report, not legal, financial or gambling advice.