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● LIVE Updated 2h ago · 22 sources tracked

New York Attorney General Letitia James files suit against Polymarket

New York Governor Kathy Hochul and Attorney General Letitia James filed a lawsuit against Polymarket U.S. in the New York Supreme Court in Manhattan. The state calls the prediction market an illegal, unlicensed gambling operation that operates in flagrant disregard of state laws. Officials allege the platform exposes vulnerable residents to gambling harms and seek to bar Polymarket from the state until it acquires a gaming license. The legal action follows a similar lawsuit filed against rival prediction market Kalshi two months prior.

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  • ✓ New York Governor Kathy Hochul and Attorney General Letitia James filed a lawsuit against Polymarket U.S.
  • ✓ The lawsuit was filed in the New York Supreme Court in Manhattan under Executive Law 63(12).
  • ✓ The state accuses Polymarket of running an illegal gambling operation without a license.
  • ✓ The legal action follows a similar lawsuit filed against rival prediction market Kalshi two months earlier.
🛡️ Source Corroboration: 22 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

New York officials filed a lawsuit against Polymarket U.S. to halt its operations and pursue financial penalties.

Live updates

  1. New York Sues Polymarket Over Unlicensed Gambling

    New York Governor Kathy Hochul and Attorney General Letitia James filed a lawsuit against Polymarket U.S. in the New York Supreme Court in Manhattan. The state calls the prediction market an illegal, unlicensed gambling operation that operates in flagrant disregard of state laws. Officials allege the platform exposes vulnerable residents to gambling harms and seek to bar Polymarket from the state until it acquires a gaming license. The legal action follows a similar lawsuit filed against rival prediction market Kalshi two months prior.

    Why it matters

    The state's action against Polymarket represents an escalation in regulatory crackdowns on prediction markets operating within New York. Governor Hochul and Attorney General James brought the complaint under Executive Law 63(12), targeting event contracts they categorize as unlicensed gambling. This follows a parallel legal battle launched against competitor platform Kalshi two months earlier.

    What is confirmed

    • New York Governor Kathy Hochul and Attorney General Letitia James filed a lawsuit against Polymarket U.S.
    • The lawsuit was filed in the New York Supreme Court in Manhattan under Executive Law 63(12).
    • The state accuses Polymarket of running an illegal gambling operation without a license.
    • The legal action follows a similar lawsuit filed against rival prediction market Kalshi two months earlier.

    Still unconfirmed

    • Polymarket moved the case to federal court and filed its own lawsuit.

    What to watch next

    • Court rulings on whether Polymarket will be barred from operating in New York without a gaming license
    • Decisions regarding financial penalties or demands for triple the platform's gains
    Sources used for this update (22)
    1. AP News — New York sues prediction market Polymarket, calling it an unlicensed gambling operation
    2. CNBC — New York sues Polymarket U.S., two months after filing lawsuit against Kalshi
    3. ABC News - Breaking News, Latest News and Videos — New York Attorney General Letitia James files suit against Polymarket
    4. The Hill — New York accuses Polymarket of running illegal gambling operation in new lawsuit
    5. News12 | Long Island — Gov Hochul Ag James Launch Lawsuit Accusing Polymarket Of Illegal Gambling Operation
    6. Times Union — New York sues Polymarket in latest legal action against prediction markets
    7. WSJ — New York State Sues Polymarket in Escalating Crackdown on Prediction Markets
    8. www.americanbanker.com — New York sues Polymarket, alleging 'illegal gambling'
    9. www.techspot.com — New York sues Polymarket over unlicensed gambling operation just as it did rival Kalshi
    10. www.cnbc.com — New York sues Polymarket U.S., two months after filing suit against Kalshi
    11. www.yahoo.com — New York Attorney General Letitia James files suit against Polymarket
    12. www.newsbreak.com — Tipster in RAF Fairford plot had 'partial picture,' British minister says amid probe - NewsBreak
    confidence 100%
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