GoKawiilNew York AG Letitia James sues Polymarket over alleged illegal gambling operation
New York attorney general Letitia James filed a lawsuit against prediction market Polymarket, alleging it is operating an unlicensed gambling business in violation of state law. The suit seeks a court order barring Polymarket from operating in New York, along with fines and forfeiture of profits, and follows a similar suit against rival Kalshi filed roughly a month earlier. Polymarket's chief legal counsel Neal Kumar disputed the claims, saying the company tried to engage directly with the state before the suit was filed.