Current outcome
New York has filed suit against Polymarket, alleging the crypto prediction market operates as an unlicensed gambling business.
Progress timeline
2 material updates- #01
New York sues Polymarket over alleged illegal gambling business
New York Attorney General Letitia James sued Polymarket, alleging its sports event contracts violate state gambling laws and seeking potentially to block the platform for New York residents.
Source evidence: Cointelegraph · CoinDesk · CryptoSlate · Decrypt · Bitcoin Magazine · BitKE · CryptoRank
- #02
New York Sues Polymarket US Over Unlicensed Gambling
The New York Attorney General sued Polymarket in Manhattan court, specifically seeking to bar the CFTC-designated exchange from operating in New York, triple its gains, and impose $100,000 per sports contract.
State after update: New York Attorney General Letitia James sued Polymarket in Manhattan court, alleging unlicensed gambling and seeking an injunction, treble damages, and $100,000 per sports contract.
Source evidence: The Defiant · The Block