According to CoinMeta, the state of New York has filed a lawsuit against the prediction market platform Kalshi, accusing it of offering contracts related to sports, elections, and culture without obtaining a state gambling license, and demanding compensation of at least $36 billion. New York State is also seeking a temporary ban to require Kalshi to stop providing these contracts in the state. This lawsuit was filed after Kalshi failed to comply with state gambling regulations, further increasing the legal pressure it faces.