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New York sues Polymarket US over alleged unlicensed sports betting

Enforcement & compliance

New York Attorney General Letitia James and Governor Kathy Hochul sued QCX LLC, which operates as Polymarket US, alleging that it runs illegal gambling in the state. The state is seeking to stop the company operating without a gambling licence, recover profits it considers unlawful, compensate customers and impose fines of three times those profits.

The case could determine whether Polymarket US must comply with New York gambling licensing and sports-betting rules.

Earlier fines and penalties by CFTC

DateCompanyAmountStoryAppeal status
PolymarketNot statedNew York officials sue Polymarket over alleged unlicensed gamblingNot stated
Underdog SportsNot statedUnderdog Sports surrenders fantasy licences in seven US statesNot stated
KalshiUSD 65,000CFTC fines Gabriel Perez $65,000 over Kalshi speech wagersNot stated
Not namedUSD 172,000CFTC sanctions Gabriel Perez over US prediction market tradesNot stated
PolymarketNot statedUS authorities reportedly investigate further prediction-market insider trading casesNot stated

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