New York Governor Kathy Hochul and Attorney General Letitia James today announced that New York has sued KalshiEX, LLC (Kalshi) for running an illegal gambling operation in New York through its prediction market platform. An investigation by the Office of the Attorney General found that Kalshi’s prediction market is an illegal, unlicensed gambling operation. Kalshi’s illegal prediction market exposes New Yorkers – including those under the legal gambling age of 21 – to serious personal and financial risk.

“New York’s gambling laws protect children from underage betting and help combat gambling addiction. No matter what they call themselves, prediction markets like Kalshi are gambling platforms, plain and simple. By ignoring our laws, Kalshi is running an illegal operation and harming New Yorkers in the process. We are taking them to court to uphold our laws and protect New Yorkers.” – AG James