News Summary

• New York state is the latest to sue Kalshi, accusing the company of being an unlicensed gambling site.
• The state says the platform accepts users aged 18 to 20, below New York's mobile sports betting minimum of 21.
• Also sued recently in New York were Coinbase and Gemini over their own prediction markets, and game publisher and markeplace Valve over lootboxes.
• Americans will lose about $250 billion gambling this year, reports Joey Politano, a number that's up 60% in half a decade.