New York sues Kalshi for allegedly running an ‘illegal gambling operation’
The Verge·July 31, 2026
New York is suing Kalshi, a prediction market, for allegedly operating an illegal gambling operation in the state. Attorney General Letitia James claims Kalshi has been accepting wagers without a license from the state's gaming commission, putting residents at risk. An investigation found that Kalshi exposes New Yorkers, including those under 21, to personal and financial risks. The state is seeking to block Kalshi from operating in New York and to obtain restitution.
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