New York sues Polymarket alleging unlicensed gambling while company countersues in federal court
New York Attorney General Letitia James and Governor Kathy Hochul filed an enforcement petition in Manhattan state court on Thursday against QCX LLC, operating as Polymarket US, alleging the prediction market ran an unlicensed gambling business that offered sports event wagers to individuals under twenty-one. Polymarket countersued James and state gaming officials in Manhattan federal court several hours later, asserting that the Commodity Futures Trading Commission holds exclusive regulatory jurisdiction over federally registered event contracts and derivatives exchanges.
Filing (Supreme Court of the State of New York, County of New York) → · Office of the New York State Attorney General, Reuters, CNBC