Letitia James

New York Attorney General Letitia James has secured a settlement of up to $35 million from former Celsius CEO Alex Mashinsky, alongside a permanent ban from the securities, commodities and cryptocurrency industries. The action follows claims that Mashinsky misled investors about the safety of Celsius deposits before the lender froze withdrawals and entered bankruptcy in 2022.

New York officials have sued Polymarket US, alleging the prediction market provider is operating without a gambling license in the state. The case intensifies the national dispute over whether event contracts fall under federal derivatives oversight or state gambling law.

The CFTC has ordered Kalshi to continue operating in New York after the state sued to block its sports prediction markets. The move deepens a regulatory clash over whether event contracts fall under federal derivatives oversight or state gambling law.

New York has sued Kalshi, alleging the prediction-market platform offers sports and event wagers without a gaming license. The state is seeking to bar the company from operating what officials describe as an unlicensed gambling business, while pursuing restitution, damages and civil penalties.