{"id":310759,"date":"2026-07-31T15:06:10","date_gmt":"2026-07-31T15:06:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/310759\/"},"modified":"2026-07-31T15:06:10","modified_gmt":"2026-07-31T15:06:10","slug":"new-york-sues-kalshi-will-seek-damages-alleging-it-offers-gambling-platform","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/310759\/","title":{"rendered":"New York sues Kalshi, will seek damages, alleging it offers gambling platform"},"content":{"rendered":"

Kalshi, which targeted a $40 billion valuation<\/a> during a June funding round, and the prediction markets sector are facing legal challenges across<\/a> the U.S. In Minnesota, Kalshi and rival Polymarket scored a temporary win when the U.S. District Court for the District of Minnesota ruled the state\u2019s law banning prediction markets<\/a> likely runs afoul of the Commodity Exchange Act, and granted a preliminary injunction against the law to the two companies and the Commodity Futures Trading Commission.<\/p>\n

\u201cIt’s sad to see this type of political theater from the leadership in our own state,\u201d Elisabeth Diana, Kalshi\u2019s head of communications, said in an email to CoinDesk. \u201cStates can\u2019t just shut down a federally licensed exchange. This would also hurt New Yorkers, who would be driven offshore. We love New York, we love New Yorkers, and New Yorkers love our product.” <\/p>\n

James\u2019 office described Kalshi\u2019s event contracts as bets and said the platform takes wagers on professional and college sports, elections and culture. The lawsuit alleges Kalshi allows users aged 18 to 20 to wager and lists markets involving New York college teams, both prohibited for licensed sportsbooks in the state.<\/p>\n

The World Cup helped boost Kalshi’s numbers, adding 3 million<\/a> during the course of the tournament, according to CNBC. That’s more than double the 2 million the firm said it had at the start of May<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Kalshi, which targeted a $40 billion valuation during a June funding round, and the prediction markets sector are…\n","protected":false},"author":2,"featured_media":310760,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[13034,32712,9,24,55,54,56],"class_list":["post-310759","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-kalshi","tag-litigation","tag-new-york","tag-new-york-city","tag-new-york-city-headlines","tag-new-york-city-news","tag-ny"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/310759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=310759"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/310759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/310760"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=310759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=310759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=310759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}