Prediction Markets Face Legal Fire | Albany News

Prediction markets like Kalshi and Polymarket are sparking a legal and political firestorm, with New York state calling them unlicensed gambling and tribal governments seeing them as an invasion of sovereignty. Despite their tech-savvy image, these platforms face stiff resistance — including lawsuits, regulatory pushback, and even backing down from offering contracts on major horse races due to federal protections for racetracks. As young users blur the line between prediction markets and sports betting, the future of these platforms remains uncertain amid mounting pressure from states and tribes alike. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/78f206f389ed9299