New York sues Polymarket, alleging it is running an illegal gambling operation

The lawsuit , filed against QCX LLC, which does business as Polymarket US, asks a court to stop the company from operating in New York without a gambling license. The state also wants Polymarket to give up what it said are illegally earned gains, pay restitution to customers and face fines equal to three times those gains.

Polymarket launched its U.S. platform in December 2025 with markets that let users put money on the outcomes of sporting events. The company said at the time that it planned to expand into other types of markets.

New York argued those contracts amount to gambling under state law because users are putting money on events with uncertain outcomes. The state also said Polymarket lets people ages 18 to 20 use the platform, while New York requires users to be at least 21 to participate in mobile sports betting.