{"id":355776,"date":"2026-09-24T15:38:18","date_gmt":"2026-09-24T15:38:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/355776\/"},"modified":"2026-09-24T15:38:18","modified_gmt":"2026-09-24T15:38:18","slug":"new-york-sues-polymarket-says-it-ran-illegal-gambling-operation","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/355776\/","title":{"rendered":"New York sues Polymarket, says it ran illegal gambling operation"},"content":{"rendered":"<p class=\"mb-4 text-lg md:leading-8 break-words\">NEW YORK, Sept 24 (Reuters) &#8211; New York&#8217;s attorney general sued Polymarket on Thursday, escalating her battle \u200cagainst prediction markets, an industry that she \u200csays violates state laws against illegal gambling.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Attorney General Letitia James \u200bfiled her petition nearly two months after bringing a similar case against Polymarket rival Kalshi. She filed similar petitions in April against two other prediction market \u200coperators, Coinbase Financial \u2060Markets and Gemini Titan.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">James&#8217; case against Polymarket is the latest effort by US \u2060states to crack down on an industry that has soared in popularity since faring better than \u200bpollsters in \u200bpredicting that Republican \u200bDonald Trump would beat \u200cDemocrat Kamala Harris in the 2024 presidential election.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Those states are also at odds with the Trump administration, with the Commodity Futures Trading Commission claiming exclusive authority to regulate prediction markets.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Federal appeals courts \u200care divided over who should oversee \u200bthe industry, raising the prospect \u200bthe US Supreme \u200bCourt may need to decide.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">Prediction markets \u200care best known for \u200bletting people wager \u200bthrough so-called event contracts on the outcomes of sports events, though people can also \u200boften wager on \u200celections and cultural events such as the \u200bOscars.<\/p>\n<p class=\"mb-4 text-lg md:leading-8 break-words\">(Reporting by Jonathan Stempel in New York; \u200bEditing by Bill Berkrot)<\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK, Sept 24 (Reuters) &#8211; New York&#8217;s attorney general sued Polymarket on Thursday, escalating her battle \u200cagainst&hellip;\n","protected":false},"author":2,"featured_media":355777,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[53671,153,81576,10811,398,9,11,10,13672,17757],"class_list":["post-355776","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-commodity-futures-trading-commission","tag-donald-trump","tag-illegal-gambling","tag-kamala-harris","tag-letitia-james","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-polymarket","tag-prediction-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355776","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=355776"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/355777"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=355776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=355776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=355776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}