New York defies Trump admin, asks court to shut down Polymarket gambling
Summary
Ars Technica reports that New York is suing Polymarket, alleging it runs an illegal gambling operation in violation of state law and exposing underage users. The piece outlines the state's arguments, Polymarket's response, and the broader legal questions about prediction markets and federal vs state jurisdiction, including references to Kalshi and the CFTC. It also notes potential Supreme Court involvement and the regulatory landscape for prediction markets.