business
New York sues prediction market platform Kalshi alleging 'illegal gambling operation'
Summary by The San Antonio Editorial Desk Dave Collins, Associated Press , as published by KSAT 12 (ABC affiliate)
· July 31, 2026
· 1 min read
Photo: KSAT 12 (ABC affiliate) · view original
Story provenance No corrections
Summary created by The San Antonio Editorial Desk — automated, rule-governed Byline on source page Dave Collins, Associated Press, as published by KSAT 12 (ABC affiliate) Original story Read at the source Source published Jul 31, 2026 Indexed here Jul 31, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key takeaway Further details on the lawsuit and the ongoing dispute are available from KSAT 12's source.
New York officials have taken legal action against a company called Kalshi, alleging it operates an illegal gambling operation. The state is seeking to stop the company's operations and recover its profits, potentially worth billions of dollars. The lawsuit involves a dispute over who regulates prediction markets, with Kalshi arguing it is federally licensed and regulated.
New York is not the only state to file a lawsuit against Kalshi and similar companies. Further details on the lawsuit and the ongoing dispute are available from KSAT 12's source.
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As published by KSAT 12 (ABC affiliate) . The San Antonio surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) . Have a tip or correction? Contact our newsroom .
Category: business Published: July 31, 2026 Source: KSAT 12 (ABC affiliate) Reading time: 1 min
Frequently asked about this story
What is this story about? New York officials have taken legal action against a company called Kalshi, alleging it operates an illegal gambling operation. The state is seeking to stop the company's operations and recover its…
When was this published? This article was first published on July 31, 2026 by KSAT 12 (ABC affiliate) and curated for The San Antonio readers.
Who reported this story? This story was reported by Dave Collins, Associated Press at KSAT 12 (ABC affiliate). To learn more about how The San Antonio selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The San Antonio, or browse our daily briefing and topic hubs .
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