New York Levies Lawsuit Against Kalshi, Seeks $36 Billion For Alleged Illegal Gambling
Sports Betting Dime
New York files a $36 billion lawsuit against Kalshi for alleged illegal gambling operations.Summary
New York has filed a $36 billion lawsuit against Kalshi, a prediction market operator, alleging illegal gambling activities in the state. The lawsuit, filed on July 31, seeks penalties, forfeiture of gains, and restitution. New York claims Kalshi violates gaming laws by offering unregulated sports betting, including to minors. Kalshi's CEO called the action 'political theater,' while the CFTC has also sued New York to defend federal regulatory authority over prediction markets.
(Source：Sports Betting Dime)