The New York State Gaming Commission has submitted a petition to a Manhattan court seeking to investigative subpoenas against prediction market operator Kalshi in order to examine potential breaches of state gambling statutes while accumulating evidence to evaluate prospective civil sanctions.

The authenticated petition, submitted to the Supreme Court of the State of New York, County of New York, identifies Kalshi Inc. and KalshiEX LLC as named respondents. The commission is represented by the office of Attorney General Letitia James. Sections of the petition, which bears a NYSCEF received date of October 22, 2026, were disclosed by gaming attorney Daniel Wallach.

Pursuant to Wallach’s account, the subpoenas request documentation concerning Kalshi’s sports-event agreements, its market offerings to New York residents under the age of 21, promotional materials characterizing its products as wagers or bets, and Kalshi’s organizational ownership and corporate composition.

“The Gaming Commission seeks the documents and information requested in the Subpoenas so it can determine whether to issue civil penalties against Kalshi and others for violations of the Racing Law and, if so, in what amounts,” the petition states.

The petition alleges that for at least 18 months, Kalshi has “operated a massive enterprise in New York designed to enable individuals to place wagers relating to sports and other matters.” It says New York’s Racing, Pari-Mutuel Wagering and Breeding Law bars entities from offering sports wagering without a commission license and that Kalshi has not obtained one.