New York Sues Kalshi for Illegal Gambling
New York's Attorney General Letitia James has filed a lawsuit against Kalshi, alleging that the company's prediction markets constitute illegal gambling. The suit seeks $36 billion in damages and claims that Kalshi is running an 'illegal gambling operation'. The state argues that Kalshi's platform is essentially a gambling platform 'plain and simple', despite the company's claims that it facilitates non-monetary, informational markets.15 sourcesSee all sources