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By SectorWire desk ·
The report said that New York sued Kalshi, alleging the prediction market company operates without gambling authorisation. Governor Kathy Hochul and attorney general Letitia James announced the action.
The lawsuit challenges Kalshi’s authority to offer event contracts in New York.
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The lawsuit challenges Kalshi’s event-contract operations under New York gambling rules.
Operators face competing federal and state jurisdiction claims, alongside New York’s allegations against Kalshi over gambling and tax avoidance.
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.
Disputed compact negotiations concern ending state revenue sharing under an arrangement providing Niagara Falls about $10m to $13m annually.