New York officials filed a lawsuit against the prediction market platform Polymarket on Thursday, asserting the service functions as an “unlicensed gambling operation,” the Associated Press reports. The state is asking a judge to block the company from continuing its operations within New York borders.
This legal move marks the latest attempt by the state to exert control over popular betting applications that let people wager on a wide variety of topics, including sports, weather, technology, and political elections. The state is pushing for Polymarket to pay significant fines and provide restitution to users.
