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Kalshi's Court Fights, Regulating Prediction Markets | Bloomberg Businessweek
Posted
August 5, 2026
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225
August 5, 2026
225
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Kalshi is being defended by a team of Milbank lawyers in court fights that could upend US predictions markets, including a new suit by New York Attorney General Letitia James claiming the company operates as an illegal gambling business. The New York suit poses the greatest potential threat to Kalshi because state law gives the AG wide powers, and could potentially bring the company to its knees, according to sports betting and gaming attorney Daniel Wallach. The cases, which have yielded mixed results, could eventually be headed to the US Supreme Court, testing a Milbank litigation practice boosted by the addition of lawyers such as Neal Katyal and Josh Sterling.
On this episode, Carol Massar and Tim Stenovec speak with:
Robert DeNault, Head of Enforcement and Legal Counsel at Kalshi
Larry Aschebrook, Founder & Managing Partner of G Squared and Bailey Lipschultz
Wayne Ting, CEO at Lime
Conn Davis, CEO of Byrna Technologies
See omnystudio.com/listener () for privacy information.
Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.
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