Polymarket Slams New York Lawsuit as State Targets Prediction Market Sector
Polymarket will fight for its users, the company’s chief legal officer said Thursday (Sept. 24), after New York announced that the state filed a lawsuit against the company. New York sued the company behind Polymarket US, QCX LLC, alleging in a Thursday press release that the prediction market platform runs an illegal gambling operation. The lawsuit alleges that Polymarket’s prediction markets…
New York state has filed a lawsuit against Polymarket US, alleging the prediction market platform operates an illegal gambling business, according to a report by PYMNTS. The company's chief legal officer, Neal Kumar, stated that Polymarket will fight for its users, expressing disappointment in the New York Attorney General's decision to file a similar lawsuit to those filed against Coinbase and Gemini Titan in April.
The lawsuit seeks a court order halting Polymarket's operations as an unlicensed gambling business in the state, as well as fines and restitution.
Written by urgent.news from PYMNTS's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.