New York Sues Kalshi Over Gambling Allegations

New York is suing Kalshi over claims the prediction market is running "an illegal gambling operation." In the lawsuit, New York Attorney General Letitia James accuses Kalshi of violating state laws by accepting wagers without a license from the state's gaming commission, as reported earlier by CNBC.

The state of New York sued Kalshi on Friday, accusing the prediction market of running an illegal gambling operation. The lawsuit alleges the company is operating a gambling business in "flagrant disregard" of Empire State laws, failing to get a license from the state gaming commission and skirting