New York Sues Kalshi Over Illegal Gambling Allegations
New York has filed a lawsuit against Kalshi, accusing the financial exchange of operating an illegal gambling business. This action follows similar legal challenges from other states, including Arizona. Kalshi maintains it is a regulated prediction market platform.
Coverage across 2 outlets
Evening Legal Briefs
New York is suing Kalshi, alleging that the financial exchange operates as an illegal gambling operation. The lawsuit claims that Kalshi's offerings violate state and federal laws.
New York alleges Kalshi is running an 'illegal gambling operation' in new lawsuit
New York has filed a lawsuit against Kalshi, alleging that the company is operating an illegal gambling operation. Kalshi, which is headquartered in New York, has previously been sued by multiple other states.
Arizona attorney general sues Kalshi on illegal gambling charges
Arizona's Attorney General Kris Mayes has sued Kalshi, alleging the company operates an illegal gambling business by allowing bets on elections. Kalshi, which defines itself as a prediction market platform operating under the Commodity Futures Trading Commission, faces similar charges in Nevada and has been in the news due to an insider trading accusation involving an employee of YouTuber MrBeast.