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Prediction Markets in Legal Crosshairs | New York City News
Prediction markets are caught in a high-stakes legal battle as the Trump administration pushes for federal control through the CFTC, while states like New York sue platforms like Kalshi, calling them illegal gambling operations. With New York demanding compliance with state laws and Kalshi defending itself as a legitimate trading platform, the conflict reveals deeper tensions over regulatory authority—and a surprising personal connection: Donald Trump Jr., advisor to both Kalshi and rival Polymarket, holds a multimillion-dollar stake in Kalshi, fueling accusations of self-enrichment. This…
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