The logo of the prediction market platform Kalshi is displayed on the screen of a smartphone placed in front of another logo of the company in Creteil, France, on March 9, 2026, during a major scandal and a $54 million lawsuit concerning bets related to recent strikes in Iran.
The logo of the prediction market platform Kalshi is displayed on the screen of a smartphone placed in front of another logo of the company in Creteil, France, on March 9, 2026, during a major scandal and a $54 million lawsuit concerning bets related to recent strikes in Iran.
By Kara Scannell, CNN (CNN) — The New York attorney general’s office is suing Kalshi, one of the largest prediction markets, alleging it’s running an illegal gambling operation in the state. Attorney General Letitia James alleges Kalshi failed to obtain a state gambling license and pay related taxes…
ALBANY, N.Y. (WNYT) – New York is suing Kalshi, saying the company ran an illegal gambling platform that let users bet on sports and other events without a state license. Gov. Kathy Hochul and Attorney General Letitia James announced the lawsuit and said an Office of the Attorney General investigati…
New York's attorney general sued betting platform Kalshi on Friday, accusing it of running an illegal gambling operation in a case that could shed a spotlight on the lightly regulated and controversial world of prediction markets.
(The Center Square) — New York sued Kalshi on Friday alleging it has been running an "illegal gambling operation" in the Empire State through its prediction market and asking a state judge to shut down the platform.
New York sued Kalshi Friday, alleging its prediction market is nothing more than illegal, unlicensed gambling, because outcomes depend more on chance than skill.
New York Attorney General Letitia James (D) sued prediction market platform Kalshi on Friday, accusing the federally regulated exchange of operating an illegal gambling business in the state, escalating a growing legal battle over whether prediction markets fall under state gambling laws or exclusiv…
The state of New York sued Kalshi on Friday, accusing the prediction market of running an illegal gambling operation. The lawsuit alleges the company is operating a gambling business in "flagrant disregard" of Empire State laws, failing to get a license from the state gaming commission and skirting …
New York sued Kalshi for illegal gambling, but the real motive is tax revenue. Here's the tax wedge behind the lawsuit — and what it means for bettors.
The state wants the $22 billion exchange to repay customers nationwide, surrender its proceeds, and pay triple its alleged gains—plus $100,000 for each unauthorized sports bet.
New York State has sued prediction market Kalshi, seeking to force it to pay $36 billion in damages and effectively shut the site down. State officials allege that Kalshi acts as an illegal gambling operation, as it allows people to place monetary wagers on the outcomes of sports games, elections, c…
The suit is the latest effort by states to crack down on an industry that critics have called predatory. At least 15 states have introduced legislation this year to regulate the markets.
New York officials sued prediction market platform Kalshi for potentially billions of dollars on Friday, calling it an “illegal, unlicensed gambling operation” that includes sports wagering as the state seeks to halt its operations and force the company to forfeit its profits.
