New York sues Polymarket over illegal gambling claims
7.3 Regulation New York sues Polymarket for alleged illegal gambling, underage access, and seeks to block its operations, impose fines, and recover profits.
New York has filed a lawsuit against Polymarket, alleging that the prediction market platform operates as an illegal and unlicensed gambling business within the state. The suit targets QCX LLC, the operator of Polymarket US, seeking to halt its operations without a valid New York gambling license. According to the complaint, Polymarket offered event contracts that qualify as gambling under state law, allowing users to bet on uncertain outcomes such as sports and political events. The state also claims that individuals aged 18 to 20 accessed the platform, despite the legal minimum age for mobile sports betting being 21. New York is seeking fines, restitution for affected users, and forfeiture of alleged illegal profits. This action follows similar lawsuits against other prediction market platforms and highlights ongoing regulatory debates. The allegations have not been proven in court, and Polymarket has yet to respond publicly.
