New York asks judge to force Kalshi to hand over the names, wagers, and losses of its local bettors
New York is seeking a permanent court order to stop Kalshi from offering what it says is unlicensed sports wagering to New Yorkers. In a July 31 petition, the state also asks for customer identification, wager and loss records, Kalshi’s gains, restitution, disgorgement, prejudgment interest, costs, and penalties that could include treble damages plus $100,000 per unauthorized offer or attempt. No liability or monetary award has been made yet, so any exposure estimate is speculative. Attorney General Letitia James brought the case under Executive Law 63(12), alleging violations of state gambling and racing laws, the state constitution, and the federal Wire Act. The filing cites Kalshi’s reported $22 billion valuation and $178 billion in annualized volume. The case follows a cease-and-desist order over alleged unlicensed mobile sports wagering. Kalshi sued, claiming federal commodities law preempts state enforcement. A federal judge denied preliminary relief on July 7, and Kalshi has appealed, leaving the broader dispute unresolved.
