NY Sues Kalshi, Demanding $100K Fine Per Illegal Bet

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The lawsuit alleges that Kalshi acted as an unlicensed gambling operator, stressing that prediction markets meet the legal definition of gambling as the outcomes of event contracts “are uncertain and outside the control of the bettor or hinge on a game of chance.” New York Alleges Kalshi Violated State Laws Operating an Unlicensed Gambling Business […]