New York Attorney General sues two prediction markets on illegal gambling allegations
New York is the latest state to take a stand against prediction markets. Attorney General Letitia James has sued Coinbase Financial Markets and Gemini Titan on charges that both are illegally running unlicensed gambling operations. The suit also claims that these prediction markets violate state laws that prevent betting on games involving New York college sports teams. "Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution," James said. "Gemini and Coinbase’s so-called prediction markets are just illegal gambling operations, exposing young people to addictive platforms that lack the necessary guardrails."Multiple states have taken similar actions over the proliferation of prediction markets, but they m [...]
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CFTC sues three states for trying to regulate prediction markets
The US Commodity Futures Trading Commission is suing Illinois, Arizona and Connecticut for attempting to outlaw or regulate prediction markets like Kalshi and Polymarket. The CFTC believes it has sole [...]
Nevada sues Kalshi for operating a sports gambling market without a license
Nevada is taking action against the rapidly growing Wild West of prediction markets. The state's gambling regulators and attorney general sued Kalshi on Tuesday. They accuse the company of bypass [...]
New Jersey has no right to ban Kalshi's prediction market, US appeals court rules
Kalshi can't be stopped in New Jersey. A 3rd US Circuit Court of Appeals panel ruled on Monday that New Jersey has no authority to regulate Kalshi's prediction market allowing people to bet [...]
Kalshi suspended three political candidates from its platform for insider trading
Prediction market Kalshi has taken action against three political candidates, alleging that each was engaged with insider trading of information about their campaigns. The company implemented new rule [...]
