NYS Gaming Commission warns New Yorkers off prediction markets and sweepstakes casinos
The New York State Gaming Commission launched a public education campaign urging residents to avoid prediction markets, sweepstakes casinos, and offshore operators. The initiative, accessible at on.ny.gov/RiskyBet, promotes regulated forms of online wagering including sports betting as safer alternatives. The commission explicitly frames prediction markets alongside unlawful gambling rather than regulated financial activity, warning New Yorkers that these platforms carry risks not present in the state's licensed gambling market. The campaign represents a direct regulatory messaging effort targeting alternative wagering platforms operating in or accessible to the state.
Puts Kalshi and Polymarket on notice that New York's gaming regulator is actively classifying their products as unlawful gambling, raising the risk of a formal enforcement action or cease-and-desist order before year-end.