New York gaming regulator asks court to compel Kalshi to turn over records

The New York State Gaming Commission ( NYSGC ) has asked a Manhattan court to compel prediction market operator Kalshi to produce records driven by an investigation into potential violations of state gambling laws. The dispute comes amid a legal battle over whether sports event contracts fall under state gambling regulations or federal oversight by the Commodity Futures Trading Commission ( CFTC ). Kalshi maintains that its event contracts are federally regulated financial products , while New York authorities argue that the company has operated without the license required for sports wagering.