New York sues online prediction markets giant Kalshi
New York’s attorney general sued betting platform Kalshi on Friday, accusing it of running an illegal gambling operation in a case that could shed a spotlight on the lightly regulated and controversial world of prediction markets.
Attorney General Letitia James said New York’s gambling laws protect children from underage betting and help fight gambling addiction.‘Harming New Yorkers’ New York-based Kalshi calls itself a federally regulated “event contracts” exchange rather than a traditional sportsbook, a distinction that has fuelled legal battles with state regulators.
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