NY looks to shut down Kalshi, have it pay $36 billion in new lawsuit - Gothamist
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- New York is suing Kalshi and seeking $36 billion in damages plus a shutdown, calling the platform an "illegal gambling operation" per the state's filing
- Kalshi faced the lawsuit after talks to rein in its prediction markets broke down, per WSJ's framing, suggesting the suit followed a failed regulatory negotiation
Why it matters: New York is explicitly asking a court to shutter Kalshi and levy a $36 billion penalty — if granted, Kalshi loses access to a major state market and owes a sum that dwarfs typical state-level gambling enforcement actions.
