Digital Content Strategist
A Siena poll found one in four New Yorkers placed a sports bet in the last year, and most of those bettors used online sportsbooks. But statewide opinion on whether online sports gambling is good for New York remains divided.
A congressional debate over sports prediction markets is raising new questions about whether platforms like Kalshi and Polymarket should be regulated like sportsbooks or as financial products.
Washington has joined New York and several other states in winning a court order restricting Kalshi, as the fight over whether prediction markets fall under state gambling laws continues.
A federal judge rejected Kalshi’s effort to block New York regulators from overseeing its sports prediction contracts, keeping the state’s gambling law role in focus.
A new CFTC lawsuit against New Mexico adds to a growing state-federal fight over sports prediction markets. While the latest case is not in New York, the agency says New York is among the states involved in similar disputes.
BetMGM says New York bettors who backed the Knicks’ championship run cashed in, including one $20,000 futures bet that returned $440,000 in profit.
