Connecticut just dropped the hammer on three major platforms - Kalshi, Robinhood, and a prominent crypto exchange. The state claims they've been running unlicensed sports betting operations disguised as event contracts. All three got hit with cease-and-desist orders and were told to pull the plug immediately for Connecticut users. No warnings, no grace period - just shut it down. Looks like regulators are drawing a hard line between prediction markets and what they're calling straight-up gambling.