Overview
New York sued Polymarket today, alleging that it runs an "illegal gambling operation" through its prediction market.
“By running an unlicensed gambling operation, Polymarket has done more than just knowingly violate state law, they have put New Yorkers at risk, especially those underage who are most vulnerable to problem gaming," Governor Kathy Hochul said in a press release announcing the lawsuit.
Polymarket is "sidestepping its obligation to pay taxes like licensed casinos and mobile sports gambling platforms do," New York said. "This tax revenue from gambling regulation funds public schools, sports programs for underserved youth, and problem gambling education and treatment."
Details
Source
Originally published at arstechnica.com.