POPA ReconNew York Sues Kalshi for $36B
New York Sues Kalshi for $36B New York's Attorney General sued Kalshi on Friday, seeking to block it from operating in the state and alleging it runs illegal gambling - letting people bet on sports, culture and elections without a state license, exposing residents under 21, and skipping the associated taxes. Full restitution, disgorgement of all proceeds, penalties equal to three times its gains plus $100,000 per offering. Court filings put damages at at least $36B. Kalshi did $33B in volume in June - the claim exceeds a full month of trading, and one attorney told The Block it may be unde…
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