New York sues Polymarket, seeks triple gains and $100,000 penalties over prediction markets
New York Attorney General Letitia James sued Polymarket US operator QCX LLC, asking a state court to block it from offering event contracts without a state gambling license. The complaint argues that contracts on sports, elections, culture and other events are wagers under state law, and alleges Polymarket advertised and solicited New York users, offered sports betting without a license, and violated the federal Wire Act. New York also objects that the platform permits users aged 18 to wager, below the state’s 21-year minimum for mobile sports betting. The state seeks a permanent injunction, customer restitution, disgorgement, damages and penalties, including treble gains and $100,000 per unauthorized sports-wagering offer. QCX is also federally designated by the CFTC as a contract market, putting the case within a broader conflict over federal derivatives oversight and state gambling laws. New York has brought similar cases against Kalshi, Coinbase Financial Markets and Gemini Titan.
