The July 31 petition also seeks restitution and three times alleged gains, while the federal merits remain unresolved.
CryptoSlate•Liam 'Akiba' Wright2 Aug
The lawsuit could reshape the regulatory landscape for prediction markets, impacting their operations and investor confidence nationwide.
CryptoBriefing•Editorial Team1 Aug
A potential Tesla-SpaceX merger could reshape market dynamics, influence investor strategies, and impact the tech and aerospace sectors.
CryptoBriefing•Estefano Gomez1 Aug
George Santos bet against his own no-show and made $17,570. Kalshi caught it in seconds. The CFTC fined him $35,000.
BeInCrypto•Lockridge Okoth1 Aug
Former expelled U.S. Rep. George Santos settled with CFTC over trades made on Kalshi about the State of the Union.
The Block•Sarah Wynn31 Jul
A New York victory could empower state regulators over prediction markets, challenging federal oversight and reshaping compliance strategies.
CryptoBriefing•Editorial Team31 Jul
The lawsuit alleges that Kalshi acted as an unlicensed gambling operator, stressing that prediction markets meet the legal definition of gambling as the outcomes of event contracts “are uncertain and outside the control of the bettor or hinge on a game of chance.” New York Alleges Kalshi Violated State Laws Operating an Unlicensed Gambling Business […]
Bitcoin.com News•Sergio Goschenko31 Jul
The state is seeking at least $36 billion in damages from the prediction market platform it calls an unlicensed gambling operation, and has filed for a temporary restraining order to halt its contracts immediately. The lawsuit that prediction markets knew…
Plus, BTC is red this morning despite $233M in ETF inflows yesterday; and NY State is trying to shut down Kalshi and seeking $36B in damages
A New York victory could set a precedent, prompting states to demand gambling licenses from prediction markets, impacting crypto platforms.
CryptoBriefing•Editorial Team31 Jul
New York has filed a lawsuit against Kalshi, accusing it of operating illegal gambling products without a state license.
The CFTC asked a court to stop New York enforcing against the prediction market the day before the state filed.
The lawsuit adds to a growing clash between New York and the CFTC over whether federally regulated prediction markets are subject to state gambling laws.
Cointelegraph•Cointelegraph by Yohan Yun31 Jul
CoinDesk•Olivier Acuna31 JulNew York has sued Kalshi, seeking to block its prediction markets and recover at least $36 billion in penalties and restitution over alleged violations of the state’s gambling laws. According to the New York Attorney General’s Office, Attorney General Letitia…
New York State is seeking at least $36 billion in compensatory damages from Kalshi, pending a full accounting.
The Block•Timmy Shen31 Jul
A White House teleprompter operator accused of using advance access to President Donald Trump’s speeches to profit from Kalshi prediction market bets has left the federal government while a regulatory investigation into the trades continues. According to the Associated Press,…
Gabriel Perez, who was accused of profiting from Kalshi bets tied to President Donald Trump’s speeches, is no longer employed by the federal government.
Cointelegraph•Cointelegraph by Yohan Yun29 Jul
U.S. District Judge Katherine Menendez blocked Minnesota from enforcing the first state felony ban on prediction markets days before its Aug. 1 start. The ruling gives Kalshi and Polymarket US broad temporary protection, even as the judge found that entertainment and other contracts may fall outside federal swap regulation. A broad injunction built on a […]
Bitcoin.com News•Luci Kelemen28 Jul
Kalshi and Polymarket can keep serving Minnesota users after a judge found federal law likely preempts the state's prediction market ban.