Kalshi faces lawsuit in New York for unauthorized betting; penalties could hit $36 billion
New York Attorney General Letitia James has filed a lawsuit against the prediction market site Kalshi, alleging it operates an unlawful gambling enterprise without the required state authorization. James stated that these types of platforms risk encouraging gambling addiction, particularly among individuals younger than 21, and threaten the financial, emotional, and physical health of participants. The state is aiming to shut down Kalshi’s services and is seeking fines that could reach as high as $36 billion.
by shortkt.com✓