Feed / Enforcement & compliance
By SectorWire desk ·
The report said that New York sought at least $36bn in its lawsuit against Kalshi, filed on 31 July. The claim applies a proposed $100,000 penalty to each sports bet accepted from a New York account.
The lawsuit seeks substantial financial penalties for alleged unlicensed sports betting.
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The dispute concerns whether states can apply gambling rules to sports-event contracts offered by federally regulated exchanges.
The findings bear on state challenges to Kalshi and Polymarket's position that their contracts fall exclusively under CFTC jurisdiction.
The analysis questions Kalshi’s explanation for concentrated activity in its ether perpetual contracts.
The new contracts allow partial settlement rather than requiring players to reach the full statistical target.
The dispute could affect whether prediction market operators face state gambling laws alongside federal oversight.
The denial challenges Kalshi’s account of a tribal partnership.