New York Sues Kalshi for Running ‘Illegal Gambling’ Operation

New York filed a lawsuit against Kalshi Inc.'s trading subsidiary, alleging it operated an unlicensed gambling operation in the state. The suit names specific violations of New York gambling laws. Kalshi operates a prediction market platform that allows users to trade contracts tied to future events. The company has received regulatory approval from the Commodity Futures Trading Commission at the federal level.

Next story