New York Sues Kalshi, Alleges Illegal Gambling Operation
New York State has filed a lawsuit against Kalshi, a prediction market platform, accusing it of operating an illegal gambling enterprise. Authorities assert that Kalshi's operations constitute gambling rather than legitimate financial trading.
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New York Sues Kalshi for Running ‘Illegal Gambling’ Operation
New York sued Kalshi Inc.’s trading subsidiary for allegedly running an illegal, unlicensed gambling operation in the state, marking another major legal hurdle for an industry that has won support from the Trump administration.
By Erik Larson
Read full article →New York sues Kalshi prediction market alleging ‘illegal gambling operation’
Calling it an ‘illegal, unlicensed gambling operation’, state seeks to halt Kalshi’s operations and force it to forfeit profits New York officials sued the prediction market platform Kalshi on Friday, calling it an “illegal, unlicensed gambling operation” as the state seeks to halt its operations and force the company to forfeit its profits. New York joins a growing number of states filing lawsuits against Kalshi and other companies in a dispute with the Trump administration over who regulate...
By Associated Press
Read full article →New York sues Kalshi, says its prediction markets are ‘illegal gambling’
New York is one of many states with cases against Kalshi and others in dispute with Trump gov't on who gets to regulate.
Read full article →New York sues Kalshi, says prediction market is running 'illegal gambling operation'
It comes after a federal judge earlier this month denied Kalshi's attempts to intervene against the state's Gaming Commission.
Read full article →The Tax Reasons For New York To Treat Kalshi Like A Sportsbook
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.
By Nathan Goldman, Contributor
Read full article →New York sues Kalshi and labels prediction market platform an ‘illegal gambling operation’
A tangle of lawsuits is growing as states try to use their gambling laws to shut down Kalshi, Polymarket and other prediction market operators
By Dave Collins
Read full article →It's A Gambling Platform "Plain And Simple"; New York Sues Kalshi
It's A Gambling Platform "Plain And Simple"; New York Sues Kalshi Authored by Olivier Acuna via CoinDesk.com, New York sued prediction-market Kalshi, alleging it offers sports and event wagers in the state without a gaming license. The petition, filed in the New York Supreme Court on Friday, asks a judge to bar the company from operating an unlicensed gambling business and seeks an accounting of customer bets, losses and company gains, plus restitution, damages and civil pena...
By Tyler Durden
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