New York Sues Polymarket Over 'Illegal Gambling' Operation
New York Attorney General Letitia James filed a lawsuit against prediction market Polymarket, accusing it of running an unlicensed gambling business in violation of state law. The state seeks to block its operations, impose fines and force forfeiture of illegal gains; a similar suit was filed against rival Kalshi a month earlier.
- Lawsuit filed by New York AG Letitia James
- State seeks injunction, fines and forfeiture of gains
- New York sued rival Kalshi on similar grounds a month ago
- CFTC is investigating Polymarket after a $10M fraud attempt
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