New York AG Seeks $36B From Kalshi Over 'Illegal Gambling'
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The New York Attorney General is seeking $36 billion from Kalshi, a prediction market, alleging 'illegal gambling'. The CFTC intervened, asking a court to prevent New York from enforcing against Kalshi. This move comes as Kalshi's users and revenue continue to grow, with over $1 billion in trades, putting the company's future and the regulatory landscape at stake.
The CFTC asked a court to stop New York enforcing against the prediction market the day before the state filed.