New York sues Kalshi for $36 billion over 'unlicensed gambling'
New York's Attorney General has initiated legal action against Kalshi, a prediction market platform, alleging that it operates an unlawful gambling enterprise within the state. The lawsuit, filed on July 31, 2026, claims Kalshi offered contracts on sports, culture, and elections without state approval. The state is seeking at least $36 billion in damages and wants Kalshi's activities immediately halted.
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