Technology
New York alleges Kalshi is running an 'illegal gambling operation' in new lawsuit
Kalshi, which is headquartered in New York, has already been sued by multiple states. New York is suing Kalshi for allegedly running an "illegal gambling operation" by letting people place bets through its online prediction market platform.
Summary
Kalshi, which is headquartered in New York, has already been sued by multiple states. New York is suing Kalshi for allegedly running an "illegal gambling operation" by letting people place bets through its online prediction market platform. The new lawsuit follows several state-level legal challenges against Kalshi in the US, including in Nevada and Arizona . Other states similarly view Kalshi's platform as a tool for gambling, something the Commodity Futures Trading Commission (CFTC), the regulator in charge of prediction markets, vehemently disagrees with.
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