New York sues Polymarket over unlicensed gambling operation just as it did rival Kalshi
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What just happened? Less than two months after filing a lawsuit against prediction market platform Kalshi for allegedly running illegal gambling operations in the state, New York has sued Kalshi's rival, Polymarket, over similar allegations. The lawsuit claims that Polymarket does not have a valid license to operate in New York and does not pay state taxes, unlike licensed casinos and mobile sports betting platforms.
The lawsuit, filed in the New York Supreme Court in Manhattan by Attorney General Letitia James and Governor Kathy Hochul under Executive Law 63(12), noted that Polymarket's products are also being marketed to New Yorkers between the ages of 18 and 20, even though state law requires a person to be at least 21 to participate in mobile sports betting.
New York is asking the court to impose...
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