Judge Rules Kalshi’s Predictions Are Gambling | New York City News

New York City News Today | 2 Min News | The Daily News Now! · Jul 9, 2026 · 1m

A federal judge has sided with New York’s governor and attorney general, ruling that prediction market platform Kalshi is illegally offering unlicensed sports gambling — a major blow to the company that lets users bet on everything from sports to elections. Kalshi argues it’s selling “event contracts,” not gambling, and should be regulated federally — but the judge dismissed that, affirming states’ authority over gambling within their borders. This decision, following a prior cease-and-desist, could reshape the entire prediction market industry, forcing Kalshi to either appeal or seek a…