Blakeman slams Hochul over suit to block prediction market Kalshi: ‘Left billions on the table’

Nassau County Executive Bruce Blakeman claims Kathy Hochul squandered billions for the state by suing prediction market Kalshi.

The Commodity Futures Trading Commission (CFTC) announced Friday that former congressman and current legend George Santos has been fined $35,000 for attempting to place bets on his own attendance of the State of the Union in February. He’s also been banned from the prediction-market platform Kalshi for 3 years. Accordi

Federal regulators said the former congressman improperly profited from trades tied to President Donald Trump’s State of the Union address in February.

A federal regulator fined the lawmaker $35,000 over allegations of insider trading by placing bets on Kalshi about whether he would attend the State of the Union address in February.

New York is one of many states with cases against Kalshi and others in dispute with Trump gov't on who gets to regulate.

New York sued Kalshi Friday, alleging its prediction market is nothing more than illegal, unlicensed gambling, because outcomes depend more on chance than skill.

A tangle of lawsuits is growing as states try to use their gambling laws to shut down Kalshi, Polymarket and other prediction market operators

It comes after a federal judge earlier this month denied Kalshi's attempts to intervene against the state's Gaming Commission.

New York officials have sued prediction market platform Kalshi, calling it an “illegal, unlicensed gambling operation” as the state seeks to halt its operations and force the company to forfeit its profits

New York sues prediction market platform Kalshi alleging ‘illegal gambling operation’  AP News

The company calls itself an “event contracts” exchange rather than a traditional sportsbook.

New York sues prediction market Kalshi alleging it’s an illegal gambling operation  CNN

New York sues Kalshi, says its prediction markets are illegal gambling  Reuters