alt Hacker NewsLawyer here:
https://ag.ny.gov/sites/default/files/court-filings/new-york...
This is the complaint.
If you go to page 29 you'll see what they requested.
The claim they are trying to prevent them from offering all event contracts nationwide is simply false. The closest anywhere is a claim to enjoin them from violating some federal criminal statutes that they would not be violating if they were not operating in new york illegally (IE do not stop them from operating nationwide).
You can also see their is no specific number on the damages. In fact, the only specific number is the request for Kalshi to pay $2000 in costs to the state of NY.
The CFTC is, understandably, relying on people not bothering to read it and so has put out an "alternate set of facts".
Replies
Edited my earlier comment to point here. Is your assessment that CFTC is pulling the broader impact fully out of the air, or are likely to try to spin the coverage of events in New York for participants outside of New York as counting as interstate commerce?
The complaint says "within or from New York or to persons in New York". But Kalshi is headquartered in Manhattan, right? So how can they continue to offer all event contracts nationwide without operating 'within or from New York'? Would they have to immediately move their HQ and fire all New York based employees?
One thing you could perhaps shed some light on - if a TRO were to be requested (it seems none has been?) that would be similar to the permanent order that NY requested, would it have the effect of shutting down Kalshi nationwide unless and until they move their operations to a different state? Would this conceivably bring it legitimately under the jurisdiction of the CFTC?
Note that I am not in any way a fan of Kalshi and similar services, and I personally believe they are simply gambling services. Just curious what the law might say for now.