- James’ office is requesting that Kalshi be ordered to forfeit all illegal gains, pay restitution to consumers who were harmed and pay fines equal to three times the company’s gains. In a court filing, state officials provided a rough estimate of the damages and costs sought by the lawsuit — $36 billion.
Rich coming from Utah, the MLM/Ponzi fraud capital of the US.
Maybe they're just mad the company is based out of NY?
Gambling and fraud are rather different types of problems.
At least they're taking a stand over it.
NY is also prosecuting Kalshi.
New York sues prediction market platform Kalshi alleging ‘illegal gambling operation’ - https://apnews.com/article/prediction-markets-kalshi-lawsuit... - July 31st, 2026
- James’ office is requesting that Kalshi be ordered to forfeit all illegal gains, pay restitution to consumers who were harmed and pay fines equal to three times the company’s gains. In a court filing, state officials provided a rough estimate of the damages and costs sought by the lawsuit — $36 billion.