POPA ReconNew York Sues Kalshi, Seeks $36B in Damages
New York Sues Kalshi, Seeks $36B in Damages New York has sued prediction-market platform Kalshi, calling it an unlicensed illegal gambling operation and seeking at least $36B in damages. Kalshi runs markets where people trade yes/no contracts on real-world events like elections and sports. New York argues those are bets that need a state gambling license Kalshi never got, and wants it shut down in the state with its profits clawed back. The suit, filed by Governor Hochul and AG Letitia James, also seeks triple civil penalties and $100K per offering, and says Kalshi exposed residents includi…
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