New York officials have taken action against a prediction market platform. The state is suing Kalshi, alleging it is an unlicensed gambling operation. New York aims to stop the company's operations and reclaim its profits.
The lawsuit is part of a larger dispute over regulation of prediction markets. Kalshi claims it is federally licensed and regulated, putting it outside state authority. Further details on the lawsuit and the ongoing dispute are available from NewsChannel 5 WTVF.
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