A class-action lawsuit filed in New York alleges Kalshi misled customers about the legality and operation of its sports markets. Co-founder Luana Lopes Lara rejected the claims and alleged that competitors paid social media accounts to promote them; Kalshi plans to respond in court.
The lawsuit challenges how Kalshi presents its sports markets, while state regulators are also contesting its legal position.
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A lawsuit filed in federal court alleges Stake.us unlawfully offers casino-style games to California residents. Plaintiff Dennis Boyle claims the site’s Gold Coins and Stake Cash model constitutes real-money gambling and seeks to void contracts and stop its operation; Stake said it was confident in its legal position.
A class-action lawsuit filed in Missouri on 27 October alleges that Stake.us operates an illegal online casino in the state. The suit also names Drake and Adin Ross as defendants and claims that Stake funds their betting activity with house money; these are allegations in the lawsuit, and no response from the defendants is provided in the source text.
A New York State Senate committee voted 4-3 in favour of a bill that would allow Steve Cohen to develop a casino and entertainment project beside Citi Field in Queens. The proposed project is valued at $8 billion, but Cohen still needs to secure a downstate casino licence; applications are due by 27 June, and the New York Gaming Commission plans to award up to three licences by the end of 2025.
Bally’s chairman Soo Kim said the Trump Organization’s potential payment under a deal tied to the Ferry Point site was contributing to resistance to the company’s Bronx casino proposal. A city council spokesperson said work on the required home-rule messages had not been completed for the legislative session.
The Indian Gaming Association said it plans to raise $3m to $5m from tribes to fund a lawsuit against the Commodity Futures Trading Commission over sports prediction markets. The proposed case would allege that the agency is not enforcing rules that prohibit sports betting, while the IGA also backs legislative action. Its board adopted a resolution opposing regulation of event contracts, including sports-related prediction markets.