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New York Sues Kalshi Over Alleged Illegal Gambling Operation

New York officials sued prediction market platform Kalshi on Friday, alleging it operates an illegal, unlicensed gambling operation. The state seeks to halt Kalshi's operations and force the company to forfeit profits. The lawsuit comes amid a broader push by multiple U.S. states to crack down on prediction markets, which has faced pushback from federal regulators.

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Update summary

What changed in this update

A growing number of U.S. states are seeking to crack down on prediction markets, but face pushback from federal regulators.

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CBS

New York sues Kalshi, alleging it enables illegal gambling

A growing number of U.S. states are seeking to crack down on prediction markets, but face pushback from federal regulators.

Lead source Read at CBS
US
Guardian

New York sues prediction market platform Kalshi alleging 'illegal gambling operation'

Calling it an ‘illegal, unlicensed gambling operation’, state seeks to halt Kalshi’s operations and force it to forfeit profits New York officials sued prediction market platform Kalshi on Friday, calling it an “illegal, unlicensed gambling operation” as the state seeks to halt its operations and force the company to forfeit its profits. New York joins a growing number of states filing lawsuits against Kalshi and ot…

Supporting source Read at Guardian
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