New York Gaming Commission Takes Kalshi to Court Over Unanswered Subpoenas

New York's Gaming Commission filed a petition in New York County Supreme Court on October 22 to force Kalshi Inc. and KalshiEX LLC to comply with investigative subpoenas issued July 31 under the Racing Law. The records sought cover Kalshi's sports-event contracts, offerings to New Yorkers under 21, ads describing its products as wagers or bets, and ownership and corporate structure. The Commission says Kalshi refused key requests and answered others insufficiently; it needs the material to decide whether to fine it and by how much, and alleges Kalshi ran a sports wagering business in New York for at least 18 months without a required license. Kalshi, which says its CFTC-regulated event contracts fall outside gambling law, had no public response.