New York sues Kalshi, says its prediction markets are illegal gambling

New York's attorney general has sued Kalshi, alleging its prediction market platform operates illegally. The state claims Kalshi lacks a required gambling license to offer such services. This action follows similar lawsuits filed against other prediction market operators in New York. Kalshi previously sought an injunction against state enforcement but was unsuccessful. The lawsuit seeks to halt Kalshi's operations and recover illegal gains.