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Snapshot 3:Fri, Sep 25, 2026 5:59:21 PM GMT last edited by MattKalman

New York Sues Polymarket, Company Countersues Hours Later

New York Sues Polymarket, Company Countersues Hours Later

New York Sues Polymarket, Company Countersues Hours Later
Above: The Polymarket logo on a smartphone. Image credit: Thomas Fuller/SOPA Images/LightRocket/Getty Images

The Spin


Taking bets is taking bets, and slapping a fancy "prediction market" label on it doesn't rewrite New York law. Platforms cashing in on wagers while skipping licensing are preying on vulnerable people and starving families of the services those licenses fund. States hold the authority to shut this down, and enforcing that authority is exactly right.

Event contracts are federally regulated financial derivatives, and a state attorney general with a long anti-crypto streak doesn't get to override that with a recycled lawsuit. Demanding forfeited profits, refunded losses and triple fines isn't consumer protection, it's an attempt to bankrupt a legal business. Afor conversationpolitical about fair, transparent markets would have served New Yorkers far better than a media hitgain.


Metaculus Prediction

There's a 95% chance that Polymarket will be available to U.S. customers in 2027, according to the Metaculus prediction community.


The Controversies



Go Deeper

© 2026 Improve the News Foundation. All rights reserved.Version 7.4.1

© 2026 Improve the News Foundation.

All rights reserved.

Version 7.4.1