New York Officials Sue Prediction Market Platform Kalshi Alleging It Is An “Illegal, Unlicensed Gambling Operation”

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.

New York joins a growing number of states filing lawsuits against Kalshi and other companies in a dispute with President Donald Trump’s administration over who regulates the fast-growing prediction market.

Read more at AP News