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July 31, 2026
New York Sues Kalshi Over Alleged Illegal Gambling Operations
- New York officials claim Kalshi operates as an unlicensed gambling platform.
- The lawsuit demands Kalshi forfeit profits and pay restitution to affected consumers.
- Kalshi argues it is federally licensed and operates like a stock market, not gambling.
4 Sources
- New York sues Kalshi alleging prediction market platform is an ‘illegal gambling operation’Jul 31, 2026 at 1:19 PM · Independent
- New York Alleges Kalshi Running Illegal Gambling OperationJul 31, 2026 at 1:34 PM · WSJ
- New York alleges Kalshi running illegal gambling operationJul 31, 2026 at 3:21 PM · The Hill
- New York Sues Kalshi in Latest Bid to Regulate Prediction MarketsJul 31, 2026 at 6:04 PM · NYT