New York sues Polymarket over illegal gambling allegations

Summarised from 7 outlets · Updated 25 Sept, 01:49 · Archive

New York has sued Polymarket, accusing it of running an illegal gambling operation that violates state laws.

New York has sued Polymarket, accusing the company of operating an illegal gambling platform that circumvents industry regulations. State attorney general Letitia James claims Polymarket has violated New York's gambling laws. The lawsuit is the latest action against prediction markets in the state, following a similar case filed against competitor Kalshi two months earlier. Engadget reports that New York now has illegal gambling charges underway against four of these businesses. Polymarket's chief legal officer noted that the company was founded in a New York apartment and now employs more than 350 people in the state.

How it is being reported

• New York files lawsuit against Polymarket, calling it an illegal gambling operation‘Polymarket was founded in a tiny NYC apartment and now has more than 350 employees here,’ Polymarket’s chief legal officer saidIndependent World · 24 Sept, 21:28
• New York sues Polymarket over allegations of illegal gambling operationsThe lawsuit comes two months after the state filed a similar lawsuit against competitor Kalshi.Al Jazeera · 24 Sept, 21:15
• New York sues Polymarket U.S., two months after filing lawsuit against KalshiState attorney general Letitia James claims Polymarket has violated the state's gambling laws.CNBC · 24 Sept, 20:37
• New York defies Trump admin, asks court to shut down Polymarket gamblingNew York sues Polymarket as Trump admin tries to override state gambling laws.Ars Technica · 24 Sept, 20:07
• New York sues Polymarket, calls it an illegal gambling platformThe state of New York has sued Polymarket as state officials accused the futures marketplace operator of running an illegal gambling platform.UPI · 24 Sept, 19:26
• New York continues to fight prediction markets with a lawsuit against PolymarketThe state now has illegal gambling charges underway against four of these businesses.Engadget · 24 Sept, 18:55
• New York sues Polymarket, accuses company of running illegal gambling operationNew York on Thursday sued Polymarket, accusing the company of running an illegal gambling operation that skirts around industry regulations in the latest challenge against prediction markets.New York Post · 24 Sept, 16:06

In this story: New York · Polymarket · Letitia James · Kalshi

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log