New York defies Trump admin, asks court to shut down Polymarket gambling

New York has filed a lawsuit against Polymarket, a prediction market platform, in an effort to shut it down. This move comes as the Trump administration has been trying to exempt Polymarket from state gambling laws. Polymarket allows users to bet on the likelihood of certain events, including the outcome of the 2024 presidential election. The platform has been operating in the state since 2020, despite not having the necessary licenses to do so. New York's attorney general, Letitia James, claims that Polymarket is in violation of state law and is putting users at risk of financial loss. The lawsuit seeks to shut down the platform and recover any profits made by Polymarket.