New York Sues Polymarket, Calling Prediction Market an Illegal Gambling Operation

New York sued Polymarket, alleging that the crypto-based prediction market operates as an illegal gambling platform and offers event contracts to state residents without authorization. The case adds regulatory pressure to prediction markets that use blockchain infrastructure and could challenge Polymarket’s access to U.S. users. For Bitcoin, the dispute underscores broader legal uncertainty around crypto-enabled financial and wagering products, though it does not directly target Bitcoin’s protocol or network.