Feed / Enforcement & compliance
By SectorWire desk ·
The report said that New York attorney general Letitia James filed a lawsuit against Kalshi. The action alleges that the prediction market platform operates an illegal gambling business.
The lawsuit challenges Kalshi’s event-contract operations under New York gambling rules.
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The lawsuit challenges Kalshi’s authority to offer event contracts in New York.
The lawsuit contests Kalshi’s legal authority to offer its products in New York.
The lawsuit seeks damages and an order restricting Kalshi’s operations.
The lawsuit seeks to stop Kalshi’s New York operations and recover money for consumers.
The settlement closes New York's legal action against VGW and includes financial penalties.
The agreement allows New York authorities to pursue enforcement if VGW breaches its settlement obligations.