New York sues Kalshi, alleges prediction market is illegal gambling
New York's attorney general sued Kalshi, saying its prediction market is illegal gambling. The state says Kalshi operates without a required license and ignores state gaming laws. Kalshi argues it is a federally regulated exchange and should not follow state rules. The lawsuit also claims the site puts New Yorkers, including those under 21, at financial risk.
6.8Significance
3 sources7.0Source trust