New York sues Kalshi prediction market alleging āillegal gambling operationā | TheBriefWire
New York sues Kalshi prediction market alleging āillegal gambling operationā
Published 31 July 2026 Ā· us
Calling it an āillegal, unlicensed gambling operationā, state seeks to halt Kalshiās operations and force it to forfeit profits New York officials sued the prediction
Calling it an āillegal, unlicensed gambling operationā, state seeks to halt Kalshiās operations and force it to forfeit profits New York officials sued the prediction market platform Kalshi on Friday, calling it an āillegal, unlicensed gambling operationā 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 regulates the fast-growing prediction market.
Kalshi and other platforms argue they are federally licensed and regulated, and that states have no authority to govern them. Continue reading...
Published: July 31, 2026 ā¢ 8:02 PM IST Ā· Updated: July 31, 2026 ā¢ 8:39 PM ISTBy TheBriefWire Editorial Team
Key points
Calling it an āillegal, unlicensed gambling operationā, state seeks to halt Kalshiās operations and force it to forfeit profits New York officials sued the prediction market platform Kalshi on Friday, calling it an āillegal, unlicensed gambling operationā 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 regulates the fast-growing prediction market.
Kalshi and other platforms argue they are federally licensed and regulated, and that states have no authority to govern them.
The BriefWire