New York sues Kalshi over gambling allegations

The New York attorney general’s office has sued Kalshi, a major prediction market platform, claiming it operates illegally without a state gambling license and violates age restrictions. The lawsuit seeks to halt Kalshi’s operations, impose fines, and recover profits, arguing that prediction markets are essentially gambling platforms. This action follows ongoing legal battles over whether state or federal regulators should oversee prediction markets, with courts and regulators divided on the issue.

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