New York sued Kalshi Friday, alleging its prediction market is nothing more than illegal, unlicensed gambling, because outcomes depend more on chance than skill.
A U.S. special forces soldier involved in the military operation to capture Venezuelan President Nicolás Maduro has been charged with using classified information about the mission to win more than $400,000 in an online betting market, federal officials announced Thursday.
Prosecutors allege the soldier used top-secret information to make more than $400,000 betting on the prediction market Polymarket.
The prediction market Kalshi says in regulatory filings that three congressional candidates have been suspended from the platform for betting on their own races.
Federal prosecutors in Brooklyn accused Damon Jones and others of helping a network of sports bettors who wagered based on nonpublic information.
An ABC News examination of the rise in youth gambling, fueled by a new form of online wagering, indicates a troubling trend of gambling addictions among young people.