Just over a month after suing prediction market Kalshi for running an “illegal gambling” operation, New York state authorities are now accusing competitor Polymarket of exactly the same thing.
On Thursday, the state’s attorney general Letitia James filed a lawsuit against Polymarket, accusing it of violating state laws against illegal gambling, as Reuters reports.
James’ office will seek a court order to block the company from operating as an unlicensed gambling business, which would require it to pay fines and forfeit any illegal gains.
“By running an unlicensed gambling operation, Polymarket has done more than just knowingly violate state law,” said New York governor Kathy Hochul in a statement, adding that “they have put New Yorkers at risk, especially those underage who are most vulnerable to problem gaming.”
