Hong Kong police arrested 147 people in Operation 'Rapidhorse', dismantling a triad syndicate suspected of drug trafficking, illegal gambling, and laundering HK$600 million through local banks.
Police in Hong Kong dismantled an illegal debt collection syndicate, along with a prostitution venue, a drug den, and three illegal gambling parlours, arresting 57 individuals aged 14 to 70, some with triad backgrounds. The syndicate recruited young people for "quick cash" to harass debtors via messaging apps.
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.
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.
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.
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.
Illegal online casinos are using fake news, AI-generated videos, and deepfakes to falsely present football stars Jude Bellingham and Bruno Fernandes as official brand partners, exploiting their identities to attract customers. This marks a new level of deception beyond previous tactics of using retired players.
South Korea's Gangwon Provincial Police Agency is investigating domestic Polymarket users for illegal gambling on election outcomes, tracing crypto transactions, with potential fines up to 10 million won ($6,500).
South Korean police investigate local Polymarket users for illegal gambling, with potential fines up to 10 million won ($6,500), amid global regulatory scrutiny of decentralized prediction markets.
Wisconsin Attorney General Josh Kaul has sued Kalshi, Polymarket, Robinhood, Crypto.com, and Coinbase in Dane County court, alleging their prediction market offerings constitute illegal gambling operations that violate state law. The complaints cite the platforms' own marketing materials as evidence, including Kalshi's Instagram ads calling it 'The First Nationwide Legal Sports Betting Platform.' The state alleges Kalshi generates over $1 billion annually from sports contracts, representing roughly 90% of its total revenue. The enforcement action follows a similar lawsuit by New York AG Letitia James and intensifies growing federal-state regulatory conflict over prediction markets.
A report by activist firm Callisto Research alleges Sportradar has relationships with over 270 illegal gambling operators, including some in Iran and Russian-occupied Crimea. The betting data company, which monitors integrity for FIFA, UEFA, MLB and NBA, saw its shares fall 23% after the report. Sportradar denies all allegations, stating it works exclusively with licensed operators and complies with sanctions.
"Gemini and Coinbase’s so-called prediction markets are just illegal gambling operations," alleged New York AG Letitia James.
New York Attorney General Letitia James filed lawsuits against Coinbase and Gemini on Tuesday, alleging the crypto platforms violated state gambling laws by offering prediction markets. The state seeks $2.2 billion from Coinbase and $1.2 billion from Gemini, arguing the platforms allow users as young as 18 to gamble when the legal age is 21. Both companies claim their prediction markets are federally regulated event contracts, not gambling.
