New York Sues Polymarket Over Alleged Unlicensed Gambling
Summary :
New York Attorney General Letitia James filed a Manhattan state court lawsuit against Polymarket on September 24.
The petition alleges unlicensed sports wagering, targeting event contracts like a July Dodgers versus Mets game.
State prosecutors cite age restrictions, arguing Polymarket permitted users aged 18 to 20 on a 21-plus sports betting market.
Enforcement remedies demand an immediate operational halt, customer restitution, civil fines, and asset forfeiture.
The lawsuit escalates a federal-state jurisdictional battle over CFTC oversight versus state gaming enforcement.
https://bitnxt.io/crypto-news/new-york-sues-polymarket-illegal-gambling
#Bitnxt
Summary :
New York Attorney General Letitia James filed a Manhattan state court lawsuit against Polymarket on September 24.
The petition alleges unlicensed sports wagering, targeting event contracts like a July Dodgers versus Mets game.
State prosecutors cite age restrictions, arguing Polymarket permitted users aged 18 to 20 on a 21-plus sports betting market.
Enforcement remedies demand an immediate operational halt, customer restitution, civil fines, and asset forfeiture.
The lawsuit escalates a federal-state jurisdictional battle over CFTC oversight versus state gaming enforcement.
https://bitnxt.io/crypto-news/new-york-sues-polymarket-illegal-gambling
#Bitnxt
