Cease and Desist Demand to KalshiEX for Unlicensed Sports Wagering

Mon, 20 Apr 2026 23:45:01 +0000
Gaming

The New York State Gaming Commission issued a cease and desist demand to KalshiEX LLC on October 24, 2025, requiring the prediction markets platform to immediately stop offering sports event contracts the Commission classifies as unlicensed sports wagering under New York law. The Commission identified specific CFTC-filed contracts covering sports outcomes including tournament winners and player statistics as violations of Racing Law § 1367-a. The letter reserves all rights to investigate and levy civil penalties and fines for prior, current, and future violations.