GoKawiilNew York sues Polymarket, seeking order to halt its US operations
New York Attorney General Letitia James and Governor Kathy Hochul filed a lawsuit against Polymarket's domestic arm, alleging it operates as an unlicensed gambling business and permits underage betting. The suit follows similar actions James has brought against Kalshi, Coinbase Financial Markets and Gemini Titan.
GoKawiil's interpretation of the reporting above, not reported fact.
The case adds to a growing patchwork of state-versus-federal conflict over who regulates prediction markets, with the CFTC arguing it alone has jurisdiction and suing some states in response. Appeals courts have split on the issue so far, meaning the legal status of platforms like Polymarket could hinge on further rulings or eventual Supreme Court review.
- New York seeks a court order barring Polymarket from operating as an unlicensed gambling business in the state.
- This is one of several New York suits against prediction market operators, including Kalshi, Coinbase Financial Markets and Gemini Titan.
- Federal and state courts disagree on regulatory authority, with the 3rd Circuit backing the CFTC and the 9th Circuit siding with Nevada against Kalshi.
Source: engadget.com — Anna Washenko, 2026-09-24
Published there as: “New York continues to fight prediction markets with a lawsuit against Polymarket”
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