New York Sues Prediction Platform Polymarket Over Alleged Illegal Gambling

…Legal Officer Neal Kumar said the company had sought to address New York officials’ concerns directly but claimed they instead chose to pursue the matter publicly, Chief Legal Officer Neal Kumar said in a statement, " We chose to engage with them directly on the substance and address their concerns ," adding, “They preferred the media hit. Any time the (attorney general's) office wants to swing by, our door is open for a conversation about how we protect consumers and offer fair, transparent and legal markets.”…

…allowing users aged 18 to 20 to access its platform, even though New York law sets the minimum age for mobile sports betting at 21. James said Polymarket’s operation of gambling markets without state supervision is " exposing New Yorkers to gambling addiction with few, if any, safeguards ," according to the petition. “By running an unlicensed gambling operation, Polymarket has done more than just knowingly violate state law, they have put New Yorkers at risk, especially those underage who are most…

…for mobile sports betting at 21. James said Polymarket’s operation of gambling markets without state supervision is "exposing New Yorkers to gambling addiction with few, if any, safeguards," according to the petition. “ By running an unlicensed gambling operation, Polymarket has done more than just knowingly violate state law, they have put New Yorkers at risk, especially those underage who are most vulnerable to problem gaming ," New York Governor Kathy Hochul said in a statement. Polymarket Chief Legal Officer Neal Kumar said the company had sought to address New York officials’ concerns directly but claimed they instead chose to pursue the…