States / New York
Legal status · as of Oct 15, 2026
Are prediction markets legal in New York?
In court
New York is litigating on several fronts. New York's attorney general sued Kalshi (July 31, 2026) and Polymarket (Sept 24, 2026), while the CFTC is suing the state and invoked emergency powers in August.
State actions
Regulator orders, lawsuits, rulings and laws, newest first.
| Date | Action | What happened | Sources |
|---|---|---|---|
| Sep 24, 2026 | Lawsuit | State sues Polymarket (QCX) in state court; Polymarket countersues in federal court the same day. (Polymarket) | SBC Americas · The Block |
| Aug 11, 2026 | Other | CFTC uses emergency authority in response. (Kalshi) | CFTC Release 9281-26 primary |
| Jul 31, 2026 | Lawsuit | AG Letitia James sues Kalshi for an injunction, restitution and treble penalties (the CFTC said the state seeks over $36 billion). (Kalshi) | Office of Gov. Hochul primary · CNBC |
| Apr 24, 2026 | Lawsuit | CFTC sues New York in SDNY. | CFTC Release 9218-26 primary |
| Oct 27, 2025 | Lawsuit | Kalshi sues the State Gaming Commission after an October 2025 cease-and-desist. (Kalshi) | SBC Americas |
Cases involving New York
Select a case for its full history and sources, or see the legal tracker.
| Case | Status | Last action | Sources |
|---|---|---|---|
| New York AG v. Polymarket Supreme Court of the State of New York, New York County (reported removed); U.S. District Court for the Southern District of New York | Just filed; Polymarket countersued | Sep 24, 2026 AG filed suit; Polymarket (QCX LLC) filed a federal countersuit. | Timeline: RotoWire prediction-markets legal timeline · Tracker: Mick Bransfield prediction-market litigation tracker · News: InGame (New York sues Kalshi) |
| CFTC v. New York U.S. District Court for the Southern District of New York | Pending — PI motion argued | Sep 14, 2026 Court heard argument on the preliminary-injunction motion; no ruling. | CFTC press release 9218-26 (suit vs. New York) primary · CFTC complaint vs. New York (PDF) primary · Cert petition (PDF), No. 26-338 primary · Tracker: DeFi Rate prediction-market legal tracker |
| Kalshi v. New York (Gaming Commission) U.S. Court of Appeals for the Second Circuit; U.S. District Court for the Southern District of New York | PI denied; appeal in briefing | Sep 8, 2026 CFTC and Paradigm filed amicus briefs supporting Kalshi in the Second Circuit. | S.D.N.Y. opinion & order denying PI (PDF, via NY AG) primary · Second Circuit docket No. 26-1835 (Justia) primary · S.D.N.Y. docket (CourtListener) primary · News: Covers (injunction pending appeal denied) · News: Gambling Insider (Second Circuit denial) |
| New York AG v. Kalshi Supreme Court of the State of New York, New York County (removed to U.S. District Court for the Southern District of New York) | Removed to federal court; remand motion pending | Aug 21, 2026 Kalshi opposed New York's motion to remand. | NY AG petition (PDF) primary · CFTC emergency order under CEA 8a(9) (PDF) primary · CFTC press release 9281-26 (emergency authority, Aug. 11) primary · News: InGame (New York sues Kalshi) · News: ReadWrite (remand fight) |
| New York AG v. Coinbase & Gemini Supreme Court of the State of New York, New York County (removed to U.S. District Court for the Southern District of New York) | Removed to federal court; pending | Apr 22, 2026 Gemini case removed to S.D.N.Y. (Coinbase case removed Apr. 21). | Timeline: RotoWire prediction-markets legal timeline · Tracker: Mick Bransfield prediction-market litigation tracker · CFTC press release 9218-26 (suit vs. New York) primary |
Prediction markets in New York: questions
Are prediction markets legal in New York?
In court. New York is litigating on several fronts. New York's attorney general sued Kalshi (July 31, 2026) and Polymarket (Sept 24, 2026), while the CFTC is suing the state and invoked emergency powers in August. Exchanges registered with the CFTC, including Kalshi, say federal law lets them offer event contracts in every state; that question is being fought in court. This summarizes public actions and is not legal advice.
What is the latest prediction market action in New York?
Sep 24, 2026: State sues Polymarket (QCX) in state court; Polymarket countersues in federal court the same day.
Is there a lawsuit over prediction markets in New York?
Yes. New York AG v. Polymarket (Supreme Court of the State of New York, New York County (reported removed); U.S. District Court for the Southern District of New York): Just filed; Polymarket countersued. CFTC v. New York (U.S. District Court for the Southern District of New York): Pending — PI motion argued. Kalshi v. New York (Gaming Commission) (U.S. Court of Appeals for the Second Circuit; U.S. District Court for the Southern District of New York): PI denied; appeal in briefing.
This page reports court, regulator and legislative actions with links to the filings and coverage. It is not legal advice. The tracker is re-checked every Monday and Thursday. All states · Legal tracker