New York is suing Kalshi, alleging the prediction market operates an illegal, unlicensed gambling platform. It comes after a federal court ruled that New York could enforce its gambling rules on Kalshi. They also say Kalshi exposed New York residents, including those younger than the state’s legal gambling age of 21, to “serious personal and financial risk.” “New York’s gambling laws protect children from underage betting and help combat gambling addiction,” James said in the statement. “No matter what they call themselves, prediction makers like Kalshi are gambling platforms, plain and simple.”