Case: 3:25-cv-00698 Document #: 1 Filed: 08/20/25 Page 41 of 47
marketing, platform integration, and financial operations of the “prediction markets hub” and the gaming contracts. 167. The illegal gambling business has been and remains in substantially continuous operation for a period in excess of 30 days, and/or has a gross revenue of $2,000 in any single day. The substantial volume of trades generating direct, shared revenue for the Gaming Racket through transaction fees on an ongoing basis since at least February 2025 demonstrates both a substantially continuous operation and daily gross revenues far exceeding the statutory threshold. 168. As a federally recognized Indian Tribe holding the exclusive right to operate sportsbook on the Nation’s Indian lands within Wisconsin, the Nation has suffered direct and substantial injury to its business by reason of the Gaming Racket’s violations of 18 U.S.C. § 1962(c). The Gaming Racket’s systematic engagement in a pattern of racketeering activity, encompassing wire fraud (18 U.S.C. § 1343), the transmission of wagering information (18 U.S.C. § 1084), and the operation of an illegal gambling business (18 U.S.C. § 1955) encroaches upon and usurps the Nation’s exclusive market. By conducting these unlawful activities, Kalshi and Robinhood have unlawfully diverted revenue that, by law and compact, belongs exclusively to the Nation. This direct competition from the Gaming Racket, enabled and sustained by these prohibited racketeering acts, has caused the Nation to suffer concrete and quantifiable injury in the form of significant lost profits and diminished market share to its established business. 169. Accordingly, Kalshi and Robinhood, as members of the Gaming Racket, are jointly and severally liable to the Ho-Chunk Nation for its actual damages, treble damages, costs, and attorneys’ fees pursuant to 18 U.S.C. § 1964(c). WHEREFORE, the Ho-Chunk Nation prays as hereinafter set forth below. FOURTH CAUSE OF ACTION
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