{
  "id": 17217,
  "title": "New York alleges Kalshi is running an 'illegal gambling operation' in new lawsuit",
  "url": "https://urgent.news/2026/07/31/new-york-alleges-kalshi-is-running-an-illegal-gambling-operation-in",
  "topic": "world",
  "section": "World",
  "published": "2026-07-31T19:14:24.000Z",
  "source": {
    "name": "Engadget",
    "slug": "engadget",
    "url": "https://www.engadget.com/2228160/new-york-alleges-kalshi-is-running-an-illegal-gambling-operation-in-new-lawsuit/"
  },
  "original_language": "en",
  "account": "New York has filed a lawsuit against Kalshi, accusing the company of operating an illegal gambling business through its online prediction market platform. This isn't the first time New York has taken legal action against Kalshi; the company has already faced lawsuits from multiple states. Kalshi's platform allows users to place bets on various events that are uncertain and not under the bettor's control. New York's Attorney General Letitia James argues that by not obtaining a license and failing to pay taxes, Kalshi is violating state laws. The lawsuit also claims that Kalshi is offering its services to minors, which is another violation. If found guilty, Kalshi could be ordered to forfeit all illegal profits, provide restitution to harmed consumers, and pay fines equal to three times the gains made from illegal activities. However, legal experts note that New York's case might not be as straightforward as it seems, as a similar attempt by New Jersey was overturned by a US Circuit Court of Appeals judge. It's worth noting that Donald Trump Jr. has invested in Kalshi's competitor, Polymarket, and serves as an advisor to the former. CFTC Chairman Mike Selig has also come out against New York's lawsuit, suggesting he'll take action in response.",
  "summary": "Kalshi, which is headquartered in New York, has already been sued by multiple states.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Futurism",
        "title": "Kalshi Sued for Running Illegal Gambling Operation",
        "url": "https://urgent.news/2026/07/31/kalshi-sued-for-running-illegal-gambling-operation",
        "published": "2026-07-31T19:09:57.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}