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New York accuses Polymarket of running illegal gambling operation in new lawsuit
New York sued Polymarket on Thursday, accusing the prediction market platform of running an illegal gambling operation. It marks the latest lawsuit from the Empire State, which has levied similar allegations against Kalshi, Coinbase and Gemini in recent months. “I will always stand up for New Yorkers when bad corporate actors prey on consumers and…
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Source context: Prediction market platforms have argued states do not have the authority to govern them because they are already regulated at the federal level by the U.S. Commodity Futures Trading Commission.
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Coverage from 9/24/2026, 3:10:00 PM UTC to 9/24/2026, 6:02:03 PM UTC. A missing source may reflect feed or matching limitations.
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New York sued Polymarket on Thursday, accusing the prediction market platform of running an illegal gambling operation. It marks the latest lawsuit from the Empire State, which has levied similar allegations against Kalshi, Coinbase and Gemini in recent months. “I will always stand up for New Yorkers when bad corporate actors prey on consumers and…
Prediction market platforms have argued states do not have the authority to govern them because they are already regulated at the federal level by the U.S. Commodity Futures Trading Commission.
The company and rival Kalshi are facing legal challenges from states around the country.
2 publishers
New York sued Polymarket, arguing the prediction market is an unlicensed gambling operation and seeking to block it from operating.
New York Attorney General Letitia James sued prediction market company Polymarket, alleging the company is operating an illegal gambling operation in the state and offering unlicensed betting markets to New Yorkers. The lawsuit marks the latest legal challenge facing prediction market companies as states and federal regulators clash over whether event…
