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New York Sues Kalshi for Running ‘Illegal Gambling’ Operation

Bloomberg Markets Friday 31 July 2026, 11:19 UTC By Erik Larson 1 min read
Key Points

New York Sues Kalshi for Running ‘Illegal Gambling’ Operation New York sued Kalshi Inc.’s trading subsidiary for allegedly running an illegal, unlicensed gambling operation in the state, marking another major legal hurdle for an industry that has won support from the Trump administration. The suit, filed Friday in state court in Manhattan, alleges that Kalshi’s prediction market exposes state residents – including those under the legal gambling age of 21 – to “serious personal and financial...

New York Sues Kalshi for Running ‘Illegal Gambling’ Operation New York sued Kalshi Inc.’s trading subsidiary for allegedly running an illegal, unlicensed gambling operation in the state, marking another major legal hurdle for an industry that has won support from the Trump administration. The suit, filed Friday in state court in Manhattan, alleges that Kalshi’s prediction market exposes state residents – including those under the legal gambling age of 21 – to “serious personal and financial risk,” New York Attorney General Letitia James said in a statement.
New York (LOCATION) Kalshi (PERSON) Running ‘Illegal Gambling’ Operation New York Sues Kalshi (EVENT) Running ‘Illegal Gambling’ Operation New York (EVENT) Kalshi Inc.’s (ORG) Trump (ORG) Manhattan (LOCATION) Letitia James (PERSON)
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