New York sues Kalshi over alleged illegal gambling operations
New York Governor Kathy Hochul and Attorney General Letitia James have sued Kalshi, alleging that its prediction-market platform operates as unlicensed gambling in the state. The lawsuit seeks to stop the service and obtain fines, forfeiture of alleged gains and consumer restitution; the state says the platform is available to users aged 18–20, below the 21-year threshold for mobile sports betting.
The state seeks to stop Kalshi’s service and impose financial remedies over alleged unlicensed gambling.