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New York targets Kalshi, seeks $36B penalty to halt prediction market

1 min read
Source: Gothamist
New York targets Kalshi, seeks $36B penalty to halt prediction market
Photo: Gothamist
TL;DR Summary

New York Attorney General Letitia James filed a 32-page lawsuit in Manhattan state court seeking to shut down Kalshi’s prediction-market operations and impose up to $36 billion in penalties, arguing the platform illegally operates as unregulated gambling and violates state age requirements. Kalshi denies wrongdoing, says it should be federally regulated by the CFTC, and the suit follows federal court losses and ongoing state challenges that could reshape regulation of prediction markets and potentially affect executives’ liability.

Topics:business#gambling#kalshi#letitia-james#new-york#politics#prediction-markets
Share this article
  1. NY looks to shut down Kalshi, have it pay $36 billion in new lawsuit  Gothamist
  2. New York sues Kalshi for alleged 'illegal gambling operation'  ESPN
  3. New York Sues Kalshi After Talks to Rein In Prediction Market Break Down  WSJ
  4. State suit calls Kalshi prediction markets unlicensed, illegal gambling  Times Union
  5. New York Sues Kalshi in Latest Bid to Regulate Prediction Markets  The New York Times

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