New York sues Polymarket over allegations of illegal gambling operations

The lawsuit comes two months after the state filed a similar lawsuit against competitor Kalshi.New York State has filed a lawsuit against prediction market company Polymarket amid allegations that it violated state laws against illegal gambling.The suit, filed on Thursday by New York State Attorney General Letitia James, comes two months after the state filed a similar lawsuit against competitor Kalshi. That followed the state suing Coinbase and Gemini for offering users the ability to bet on “sports, entertainment, and elections, in violation of New York laws”, according to a release from the attorney general’s office at the time.Recommended Stories list of 4 itemslist 1 of 4Google employee charged with insider trading over Polymarket betslist 2 of 4Prediction platform Kalshi to collect job details to combat insider tradinglist 3 of 4Who has profited most from the war on Iran?list 4 of 4New York sues Kalshi, says its prediction markets are ‘illegal gambling’end of listThe state accused all the companies of operating without licences from the State Gaming Commission.“Our gambling laws exist to protect New Yorkers, prevent the potential harms of problem gambling, and ensure funding ...