New York has sued Polymarket, the online prediction market. In a lawsuit filed by New York Attorney General Letitia James, the state says Polymarket has been running an illegal gambling business in New York without the license it would need to do that legally.
The complaint argues that Polymarket’s event contracts are, in practice, unlawful bets on uncertain real-world outcomes, not lighter-touch financial products. James is asking the court to shut down Polymarket’s New York operations and also wants fines , forfeiture of what the state says are illegal gains, and restitution for users. The complaint also says Polymarket let in users between 18 and 20 years old, even though comparable legal mobile sports betting in New York is limited to people 21 and older . The state casts that as a consumer-protection issue tied to gambling-related harm.
If you follow prediction markets, this is part of a much bigger fight over what these platforms actually are. States have been pushing the idea that companies like Polymarket and Kalshi should be treated like sportsbooks, while the other side has argued they belong under the Commodity Futures Trading Commission, or CFTC, as financial markets. Polymarket already settled with the CFTC in 2022 over operating an unregistered platform , according to the agency. It later resumed US operations and has also faced reported CFTC scrutiny tied to an attempted fraud involving at least $10 million.
For now, you can still think of Polymarket as an online prediction market. New York is trying to stop it from operating in the state.
Author: Jesús Pina
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"de-DE": "Jesús Pina verfolgt, was künstliche Intelligenz an der Software wirklich verändert, die wir täglich benutzen — und trennt dabei, was schon funktioniert, von dem, was bisher nur eine Ankündigung ist. Ihn interessiert die praktische Wirkung: welches Werkzeug echte Zeit spart, welches auf halbem Weg stehen bleibt und welches man sich vor der Installation zweimal ansehen sollte. Er arbeitet täglich mit KI-Modellen mitten im redaktionellen Prozess von Softonic und kennt deren Grenzen deshalb recht genau.",
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"es-ES": "Jesús Pina sigue lo que la inteligencia artificial está cambiando de verdad en el software que usamos cada día, separando lo que ya funciona de lo que por ahora solo es un anuncio. Le interesa el efecto práctico: qué herramienta ahorra tiempo real, cuál se queda a medias y cuál conviene mirar dos veces antes de instalarla. Trabaja a diario con modelos de IA dentro del propio proceso editorial de Softonic, así que conoce bastante bien sus límites.",
"fr-FR": "Jesús Pina suit ce que l'intelligence artificielle change réellement dans les logiciels du quotidien, en distinguant ce qui fonctionne déjà de ce qui n'est encore qu'une annonce. Ce qui l'intéresse, c'est l'effet pratique : quel outil fait gagner du temps, lequel s'arrête à mi-chemin et lequel mérite un second examen avant installation. Il travaille au quotidien avec des modèles d'IA au cœur du processus éditorial de Softonic, et connaît donc assez bien leurs limites.",
"it-IT": "Jesús Pina segue ciò che l'intelligenza artificiale sta davvero cambiando nel software di ogni giorno, distinguendo quello che già funziona da quello che per ora è solo un annuncio. Gli interessa l'effetto pratico: quale strumento fa risparmiare tempo, quale si ferma a metà e quale conviene guardare due volte prima di installarlo. Lavora ogni giorno con modelli di IA dentro il processo editoriale di Softonic, e per questo ne conosce bene i limiti.",
"nl-NL": "Jesús Pina volgt wat kunstmatige intelligentie echt verandert aan de software die we dagelijks gebruiken, en scheidt daarbij wat al werkt van wat nog slechts een aankondiging is. Wat hem interesseert is het praktische effect: welke tool echt tijd bespaart, welke halverwege blijft steken en welke je beter twee keer bekijkt voordat je hem installeert. Hij werkt dagelijks met AI-modellen binnen het redactieproces van Softonic en kent daardoor hun grenzen vrij goed.",
"pl-PL": "Jesús Pina śledzi to, co sztuczna inteligencja rzeczywiście zmienia w programach używanych codziennie, oddzielając rozwiązania, które już działają, od tych, które są na razie tylko zapowiedzią. Interesuje go efekt praktyczny: które narzędzie naprawdę oszczędza czas, które zatrzymuje się w połowie drogi, a które warto sprawdzić dwa razy przed instalacją. Codziennie pracuje z modelami AI wewnątrz procesu redakcyjnego Softonica, więc dobrze zna ich ograniczenia.",
"pt-BR": "Jesús Pina acompanha o que a inteligência artificial está realmente mudando nos programas que usamos todos os dias, separando o que já funciona do que ainda é apenas anúncio. O que lhe interessa é o efeito prático: qual ferramenta economiza tempo de verdade, qual para no meio do caminho e qual merece uma segunda olhada antes de instalar. Trabalha diariamente com modelos de IA dentro do próprio processo editorial da Softonic, e por isso conhece bem seus limites."
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