business ⚖️ NY AG sues Polymarket over illegal gambling claims
New York Attorney General Letitia James filed a lawsuit against Polymarket, alleging violations of state laws against illegal gambling. The suit was filed in a Manhattan state court, following similar actions against Kalshi and Coinbase Financial Markets. Authorities are seeking civil penalties and profit surrender, citing concerns over problem gambling, especially among those under 21. James described the markets as "quintessentially gambling," pointing to a specific wager on July 24, 2026. Polymarket countered that they preferred direct engagement over public legal action. ⚖️