The New York State Gaming Commission oversees gambling activities in New York and is currently entangled in a legal challenge over Kalshi’s prediction markets.
New York has filed a lawsuit in Manhattan state court challenging Kalshi’s operation as a gambling platform. The state argues Kalshi lacks a Gaming Commission license and pays no taxes, seeking restitution, disgorgement of gains, and penalties. Kalshi contends it is federally licensed and would push New Yorkers offshore if shut down.