New York sues prediction market Polymarket, calling it an unlicensed gambling operation that puts residents at risk
New York state is suing the prediction market platform Polymarket, alleging it operates as an unlicensed gambling business. The company contends that it is already regulated at the federal level.
Prediction market platforms have argued states do not have the authority to govern them because they are already regulated at the federal level by the U.S. Commodity Futures Trading Commission.
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