Policy · 3h ago
New York sues Kalshi over unlicensed prediction market
New York Attorney General Letitia James sued Kalshi, alleging the prediction market operates as an illegal gambling operation without a state license. The lawsuit claims Kalshi accepted wagers in violation of state laws. The state's investigation prompted the legal action.
Meridian48 take
This case tests whether prediction markets are gambling or legitimate financial instruments, with implications for the broader crypto and betting tech sectors.
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New York sues Kalshi for allegedly running an ‘illegal gambling operation’ →
The Verge
prediction-marketsgambling-regulation