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New York Targets Kalshi Over Gambling Laws | New York City News
New York is suing prediction platform Kalshi, demanding its shutdown and a $36 billion penalty, claiming it operates like an illegal sports betting site that flouts age restrictions and fails to protect vulnerable users. While Kalshi calls the lawsuit political theater, arguing it will push users to offshore platforms and that their product isn’t gambling, New York insists prediction markets are inherently risky wagers without proper safeguards. This high-stakes legal clash reflects a nationwide battle over who regulates these emerging platforms — state gambling authorities or federal…
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