(NEW YORK) — New York sued Kalshi on Friday, alleging its prediction market is nothing more than illegal, unlicensed gambling, in large part because outcomes depend more on chance than skill. We love New York, we love New Yorkers, and New Yorkers love our product.” The lawsuit alleged Kalshi violates state laws prohibiting wagering on games involving New York college teams and all sports betting for those under 21. “New York’s gambling laws protect children from underage betting and help combat gambling addiction,” James said in a statement. “No matter what they call themselves, prediction makers like Kalshi are gambling platforms, plain and simple.”