New York officials have filed a major lawsuit against QCX LLC, the operator of Polymarket US, accusing the company of running an illegal gambling business. The legal action, brought jointly by New York Governor Kathy Hochul and Attorney General Letitia James, claims that Polymarket has been operating an unlicensed sports betting and event prediction service across the state since launching its domestic platform in December 2025. Following an extensive investigation, the Office of the Attorney General determined that the event contracts offered by Polymarket meet the legal definition of gambling under state law because the wagering outcomes depend on chance…

Major League Baseball has finalized a multiyear prediction markets deal. MLB and Polymarket agreed to establish the platform as the official prediction market exchange for the league. This partnership marks a significant entry into the sector for the organization as it seeks to manage the growing popularity of event contracts. Alongside the commercial deal, the league has signed a memorandum of understanding with the Commodity Futures Trading Commission to create a framework for information sharing and market oversight. The collaboration between MLB and Polymarket provides the exchange with exclusive rights to use league trademarks and logos within its products. Polymarket…