New York state has sued prediction market operator Kalshi, alleging it runs an illegal gambling operation without a license, allows underage users, and avoids taxes. Kalshi argues it's a federally licensed exchange overseen by the CFTC, not states, and that the lawsuit is "political theater."
New York has sued prediction market platform Kalshi, alleging it operates an illegal gambling business by offering event contracts. The lawsuit seeks to halt operations, recover illegal gains, and impose penalties, while Kalshi defends its federally licensed status amid an escalating jurisdictional dispute with the CFTC.
Labor members are set to reignite calls for a stronger gambling regulator and push for a gas export tax at the party's 50th national conference in Adelaide. Debates are also expected on artificial intelligence impacts, dental access via Medicare, compulsory superannuation for under-18s, and local government funding.
Hong Kong police arrested 991 individuals aged 16-93 and seized HK$3 million cash and HK$4.4 million in valuables during a June-July crackdown on illegal World Cup gambling. The operation uncovered HK$365 million in betting records across 249 premises, targeting bookmaking, betting, illegal gambling operations, and money laundering.
Hong Kong police arrested 78 people, including a 16-year-old, in an anti-triad operation targeting illegal gambling at Happy Valley Racecourse. The crackdown, conducted from July 7 to Monday, uncovered a syndicate involved in illicit horse racing betting.
The Hellenic Club of Canberra was cleared of failing to record a couple's problem gambling, despite their $345,000 poker machine losses and one spouse's suicide. ACAT found the club breached rules on EFTPOS cash withdrawals, with new fines to be determined.
Prediction market Kalshi recorded $40 billion in World Cup wagers, sparking skepticism from sportsbooks and regulators who argue it operates as an unlicensed gambling app. Kalshi claims it's a federally regulated financial product, not subject to state gaming taxes or age restrictions, leading to over 20 federal lawsuits and a potential Supreme Court case.
Fanatics CEO Michael Rubin detailed the company's expansion into a global sports platform, projecting $14 billion in revenue this year. Speaking at the CNBC Sport x Boardroom Game Plan Summit, Rubin discussed Fanatics Fest, future business ventures (excluding ticketing/broadcasting), and how past jersey controversies shaped their new brand purpose: relentlessly enhancing the fan experience.
France's gambling regulator, ANJ, has ordered internet service providers to block access to Polymarket, an illegal gambling site. This follows a November 2024 geoblock on financial transactions, which users circumvented, leading to continued growth in France.
France's National Gambling Authority (ANJ) has ordered ISPs to block Polymarket, deeming it illegal gambling due to unauthorized operations, lack of protective mechanisms, and potential outcome manipulation. This follows similar actions in other countries and US regulatory scrutiny.
The Korean National Police Agency awarded 97 million won in special achievement awards to police officers for their work on 11 cases, including cracking down on illegal gambling sites, arresting those involved in revenge-for-hire schemes, and debunking fake news about forced dollar sales.
A 20-year-old who started gambling in middle school accumulated 80 million won in debt by high school, leading to secondary crimes like selling counterfeit goods and recruiting other students. Now, facing financial hardship after graduation, he has turned to 'account threats' and other illicit activities, highlighting a growing trend of young people falling into a cycle of debt and crime.
Hong Kong police arrested 65 individuals in a major operation targeting a criminal syndicate operating unlicensed nightclubs and gambling dens. The suspects allegedly provided illicit drugs and hired illegal workers as hostesses in venues across Kowloon West.
Darcy Byrne, Labor mayor of Sydney's Inner West Council, is leading a grassroots movement to curb gambling harm, advocating for fewer poker machines in NSW clubs. He compares the poker machine lobby to the US NRA and discussed his successful motion at the NSW Labor conference.
Jiaying Chen, 33, pleaded guilty in Las Vegas to bigamy and obtaining money under false pretenses, admitting to marrying over a dozen men met online to fund a $300,000 gambling habit. She used fake marriages to swindle victims out of tens of thousands of dollars, often claiming to need money for sick relatives in China.
FanDuel faces a lawsuit alleging its VIP program, which includes personalized messages from athletes like Bryce Harper, exacerbates gambling addictions. One plaintiff reportedly wagered $18.5 million and suffered severe financial and psychological consequences.
Estonia's parliament accidentally excluded online casinos from tax for a year, losing €24M. This blunder was quickly identified by AI tools, prompting the government to launch initiatives like Eesti.ai and Apsakaleidja to integrate AI into legislation drafting and administrative processes, aiming for digital identities for AI agents.
A federal judge rejected Kalshi's attempt to block New York's gambling laws, ruling that the prediction market operator is not exempt from state regulations. Kalshi is appealing the decision, which allows New York to enforce its laws while litigation continues.
Kalshi is appealing a New York federal judge's decision to deny its request to block state gambling officials from enforcing laws against its sports-related event contracts. The appeal escalates a legal battle over whether these markets are federally regulated derivatives or state-regulated gambling.
UK's Gambling Commission will introduce financial risk assessments for online gamblers spending over £1,000 in 24 hours or £3,000 in 90 days. Lower thresholds apply to under-25s. The industry expressed dissatisfaction, fearing a rise in black market gambling.
The UK's Gambling Commission will introduce financial risk assessments for online gamblers spending over £1,000 in 24 hours or £3,000 in 90 days. These checks, not termed 'affordability checks', will use credit reference data to identify those at risk of financial harm.
Labor's draft national platform will soften its opposition to mandatory jail sentences, recognizing they don't reduce crime. It also commits to cracking down on online gambling inducements, pressuring the government to toughen reforms.
Labor's updated national platform, to be debated at its July conference, softens its stance on mandatory jail sentences, pushes for stronger curbs on gambling inducements, retains Aukus support, and rewrites its Israel/Palestine position to reflect Palestinian state recognition and opposition to illegal settlements.
Hong Kong police arrested 125 people in a crackdown on a triad group that monopolized construction site lunchbox businesses through intimidation and extortion, while also operating illegal gambling dens.
