
New York AG Letitia James has filed suit against Polymarket, accusing it of being an illegal gambling operation that is operating in the New York without a license.
James suit claims that Polymarket's prediction market is an illegal, unlicensed gambling operation that exposes New Yorkers -- including those under the legal gambling age of 21 -- to serious personal and financial risk. State law prohibits wagering on games involving New York college teams and all sports betting for those under 21.
"Our gambling laws exist to protect New Yorkers, prevent the potential harms of problem gambling, and ensure funding for educational and public benefit programs," James said in a statement announcing the lawsuit.
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