Feed / Enforcement & compliance
By SectorWire desk ·
New York Attorney General Letitia James sued Kalshi, alleging that it operates an unlicensed gambling business. The state seeks to halt its activity in New York, recover allegedly unlawful proceeds and secure consumer restitution.
The lawsuit seeks to stop Kalshi’s New York operations and recover money for consumers.
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The lawsuit contests Kalshi’s legal authority to offer its products in New York.
Kalshi faces a state legal challenge over whether its prediction market complies with gambling law.
The lawsuit adds to the legal uncertainty facing Kalshi’s prediction-market operations.
The lawsuit challenges Kalshi’s event-contract operations under New York gambling rules.
The lawsuit seeks damages and an order restricting Kalshi’s operations.
The lawsuit challenges Kalshi’s authority to offer event contracts in New York.