James\u2019 office described Kalshi\u2019s event contracts as bets and said the platform takes wagers on professional and college sports, elections and culture. The lawsuit alleges Kalshi allows users aged 18 to 20 to wager and lists markets involving New York college teams, both prohibited for licensed sportsbooks in the state.<\/p>\n
\u201cNew York\u2019s gambling \u2060laws protect children from underage betting and help combat gambling addiction,\u201d James said in the statement. “No matter what they call themselves, prediction markets like \u200bKalshi are gambling platforms, plain and simple.”<\/p>\n
The World Cup helped boost Kalshi’s numbers, adding 3 million<\/a> during the course of the tournament, according to CNBC. That’s more than double the 2 million the firm said it had at the start of May<\/a>.<\/p>\n According to the attorney general\u2019s statement, the lawsuit follows an October cease-and-desist order from the New York State Gaming Commission.<\/p>\n A federal judge denied Kalshi\u2019s bid to block state regulators on July 7 and rejected an injunction pending appeal on July 27.<\/p>\n CoinDesk approached Kalshi for comment outside of regular U.S. office hours, and had not heard back by publication time.<\/p>\n","protected":false},"excerpt":{"rendered":"James\u2019 office described Kalshi\u2019s event contracts as bets and said the platform takes wagers on professional and college…\n","protected":false},"author":3,"featured_media":971068,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5122],"tags":[5229,127320,27466,405,403,5226,5225,5228,5227,67,586,132,5230,68,2969],"class_list":["post-971067","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-america","tag-kalshi","tag-litigation","tag-new-york","tag-new-york-city","tag-newyork","tag-newyorkcity","tag-ny","tag-nyc","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117014129965093685","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/971067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=971067"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/971067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/971068"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=971067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=971067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=971067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}