NYS Sues Polymarket For Running Illegal Gambling Operation
New York State sues Polymarket for operating an unlicensed prediction market platform that constitutes illegal gambling.Summary
New York State Attorney General Letitia James has filed a lawsuit against Polymarket, alleging the prediction market platform operates an illegal gambling operation in the state. Launched in the U.S. in December 2025, Polymarket allows users to bet on sporting event outcomes. The lawsuit claims the platform meets the legal definition of gambling, fails to obtain a New York State Gaming Commission license, and avoids paying taxes that licensed casinos and sports betting platforms do. The platform also permits users aged 18–20 to participate, despite New York law requiring users to be at least 21 for mobile sports betting. James is seeking forfeiture of all illegal gains, restitution for harmed consumers, and fines equal to three times the company's illegal profits. The lawsuit is part of a broader enforcement effort that has previously targeted platforms like Kalshi, Coinbase, Gemini, and Valve for similar violations.
(Source：Wrfa Radio)