The Brief The state of New York is suing prediction market platform Kalshi for "running an illegal gambling operation." The state of New York is suing prediction market platform Kalshi for "running an illegal gambling operation." ‘Illegal gambling operation’What we know:Gov. An investigation conducted by the attorney general's office found that Kalshi's prediction market is an "illegal, unlicensed gambling operation." "Kalshi's illegal prediction market exposes New Yorkers… to serious personal and financial risk."