Prediction market platform Kalshi has been sued by the state of New York, called an unlicensed gambling business by New York Attorney General Letitia James.

The lawsuit, filed July 31, is the latest legal challenge facing Kalshi, which is already battling several other states as courts determine what regulations, if any, the company must follow.

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Oscar Gonzalez is the Managing Editor for Compliance Week. He previously worked at Gizmodo, CNET, CBS News Radio, TheStreet, and NBC. Email: oscar.gonzalez@complianceweek.com LinkedIn: Follow