New York sues prediction-market Kalshi over alleged unlawful gambling operation
- 1New York on Friday sued prediction-market platform Kalshi in Manhattan state court over its alleged unlawful gambling operation.
- 2The suit seeks a permanent injunction, restitution for users, and fines of $100,000 per attempted sports wager and triple the gains.
- 3Kalshi and the CFTC regard event contracts as federally regulated swaps, while the state views them as sports betting.
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