Latest / New York City News Today | 2 Min News | The Daily News Now!
New York vs Kalshi Prediction Market | New York City News
New York’s AG Letitia James is suing prediction market Kalshi, calling it an illegal gambling operation without proper licenses — a move sparking a national debate over who regulates these fast-growing platforms. While the CFTC treats them as financial contracts, states like New York argue they’re functionally sports betting and fall under state control. Forty-four AGs, including James, demanded clarity from the CFTC, which then asked a court to halt New York’s action. James’ suit also highlights Kalshi allegedly allowing minors to bet, violating youth protection laws. Kalshi calls the…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.