A growing number of U.S. states are seeking to crack down on prediction markets, but face pushback from federal regulators.

A coalition of 44 states is fighting prediction market platforms like Kalshi, arguing sports event contracts are illegal gambling under state

New York sued Kalshi for illegal gambling, but the real motive is tax revenue. Here's the tax wedge behind the lawsuit — and what it means for bettors.

New York's attorney general has sued betting platform Kalshi for operating an illegal gambling business. The lawsuit seeks to halt Kalshi's operations and impose significant…