Ohio regulators announced a $5 million fine for Kalshi in April for operating without a license. New York AG James now seeks $36 billion from Kalshi, alleging illegal gambling activities.
James sued Kalshi on behalf of the State of New York, seeking a total of $36 billion in a lawsuit that has sent shockwaves through the industry. The lawsuit alleges that Kalshi engaged in illegal gambling activities, prompting this unprecedented legal action from the New York AG.