Kalshi is betting on New York!<\/p>\n
Kalshi is donating a whopping $3 million to nonprofit Housing Works to expand healthcare for New Yorkers, despite being sued by Gov. Kathy Hochul and the state\u2019s attorney general.<\/p>\n
The multi-year partnership will be the largest single-donor gift in Housing Works\u2019 36-year history and will expand access to healthcare, job training and community services for thousands of New Yorkers.<\/p>\n
New York Governor Kathy Hochul speaks to attendees during a celebration at the National Action Network (NAN) for the 72nd birthday of its founder and president, Rev. Al Sharpton, in New York City, on Oct. 3, 2026. REUTERS<\/p>\n
Kalshi, a New York City-based prediction market platform, is donating $3 million to the nonprofit Housing Works. Timon \u2013 stock.adobe.com<\/p>\n
The massive donation will center on Housing Works\u2019 flagship clinic in East Harlem, the 125th Street Health Center, according to Kalshi, a prediction market platform based in New York City.<\/p>\n
The project will allow the center to serve more patients, help continuity of care for New Yorkers at risk of losing coverage, and expand comprehensive services regardless of patients\u2019 ability to pay. <\/p>\n
More than 500,000 New York City residents are without health insurance \u2014 That number is expected to surge in the next 18 months, according to Kalshi and Housing Works, a nonprofit launched during the AIDS crisis. <\/p>\n
\u201cThis is the largest charitable gift in Housing Works\u2019 history. We are proud that a New York-based company has chosen to invest in New York communities at a moment when the need for healthcare, workforce opportunities, and supportive services continues to grow,\u201d Matthew Bernardo, President of Housing Works, said in a statement. <\/p>\n
Tarek Mansour and Luana Lopes Lara at Kalshi in Manhattan, on Oct. 25 2024. EMMY PARK<\/p>\n
The multi-year partnership will be the largest single-donor gift in Housing Works\u2019 36-year history. Housing Works<\/p>\n
\u201cThis partnership will help protect and expand services that thousands of New Yorkers rely on every year.\u201d<\/p>\n
The multi-million dollar donation will also expand Housing Works\u2019 \u201cReady for Work\u201d vocational and job-training program, designed to help participants build key skills to find stable employment.<\/p>\n
Additionally, the partnership is slated to turn the nonprofit\u2019s neighborhood retail locations into community outreach hubs. <\/p>\n
Gov. Hochul and Attorney General Letitia James filed a lawsuit against Kalshi last month,<\/a> accusing the federally regulated prediction market operator of running an illegal gambling business<\/a>\u00a0in the Empire State. <\/p>\n The lawsuit claimed Kalshi has been offering New Yorkers, including those aged 18 to 20, illegal gambling products without a state license, exposing consumers to financial harm while avoiding taxes and regulatory obligations imposed on licensed sportsbooks.<\/p>\n