New York sues Kalshi prediction market alleging ‘illegal gambling operation’

Calling it an ‘illegal, unlicensed gambling operation’, state seeks to halt Kalshi’s operations and force it to forfeit profits New York officials sued the prediction market platform Kalshi on Friday, calling it an “illegal, unlicensed gambling operation” 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