NY Sues Kalshi for $36B Over 'Illegal Gambling'

New York Attorney General Letitia James has filed a $36 billion lawsuit against Kalshi, alleging the company is running an "illegal gambling operation." The lawsuit seeks an order preventing Kalshi from offering sports-related prediction markets without a gambling license, along with substantial financial penalties based on the money Kalshi has made from offering sports gambling.

The lawsuit also seeks a $100,000 fine for each instance of attempting to offer unlicensed sports wagering. This case represents the latest battle in the ongoing conflict between sports betting and prediction markets, which has been playing out in courts throughout the country. sweetbonanza.qpon