New York accuses Polymarket of running illegal gambling operation in new lawsuit

New York has filed a lawsuit against Polymarket US, alleging the prediction market platform operates an illegal gambling operation without a state license. The lawsuit further claims that the platform allows users under the age of 21 to engage in betting activities. This legal action follows similar allegations recently levied by the state against other entities, including Kalshi, Coinbase, and Gemini, as New York targets corporate actors it believes are preying on consumers within the state.