Kalshi has been sued in New York’s Southern District The proposed class-action lawsuit alleges that Kalshi is engaged in illegal sports gambling Prediction market Kalshi has been sued in New York’s Southern District federal courthouse on allegations that the online platform is engaged in illegal gambling. Kalshi is a sponsor of the Pro Padel League and offers sports event contracts on the league’s outcomes. Kalshi is being sued in New York on allegations that it’s running an illegal sports gambling business across the country. (Image: Kalshi) Plaintiff Daniel Yee, a San Francisco resident, alleges on behalf of the proposed class that he was wronged by the New York-based company. Yee’s complaint contends that Kalshi promised to operate legal sports gambling contests, but after registering an account and depositing money, he became aware that the platform’s sports event contracts were “illegal sports gambling contests.” Based on Kalshi’s false representations, Plaintiff Daniel Yee and the Classes bargained for entry into legal sports…Read MoreCategory: Legal, CFTC, class-action, Commodity Futures Trading Commission, Illegal Gambling, Kalshi, lawsuit, New York, prediction market, sports betting, sports eventSource: Casino.org