Name: New York Sues Prediction Market Platform Kalshi Alleging 'Illegal Gambling Operation'
Uploaded: 2026-07-31T16:34:53.000Z
Description: New York Gov. Kathy Hochul and Attorney General Letitia James, both Democrats, announced the lawsuit filed in state Supreme Court in Manhattan.

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New York officials sued prediction market platform Kalshi on Friday, calling it an “illegal, unlicensed gambling operation” as the state seeks to halt its operations and force the company to forfeit its profits.

New York Gov. Kathy Hochul and Attorney General Letitia James, both Democrats, announced the lawsuit filed in state Supreme Court in Manhattan.

James' office is requesting that Kalshi be ordered to forfeit all illegal gains, pay restitution to consumers who were harmed and pay fines equal to three times the company's gains.

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