EQUIPThe Verge · 11h ago
New York sues Kalshi for allegedly running an ‘illegal gambling operation’
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New York Attorney General Letitia James has filed a lawsuit against prediction market Kalshi for operating an unlicensed gambling platform. The state alleges the company violated regulatory requirements by accepting wagers without approval from the New York State Gaming Commission.
- 01New York accuses Kalshi of running an illegal gambling operation within the state jurisdiction
- 02Legal action centers on Kalshi accepting wagers without a formal state gaming license
- 03The lawsuit follows an investigation by the Office of the Attorney General into platform compliance
- 04This regulatory challenge marks a significant legal hurdle for prediction markets operating in New York
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New York is suing Kalshi over claims the prediction market is running "an illegal gambling operation." In the lawsuit, New York Attorney General Letitia James accuses Kalshi of violating state laws by accepting wagers without a license from the state's gaming commission, as reported earlier by CNBC. An investigation from the Office of the Attorney […]